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Regulatory announcements

24th October 2013

Unaudited Interim Results for the six months ended 31 August 2013

Bloomsbury Publishing Plc today announces six month results for the period ended 31 August 2013.

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Financial highlights

  • Turnover £49.2 million (2012: £43.5 million) +13%
  • Profit before taxation and highlighted items* £2.8 million (2012: £2.1 million) +33%
  • Profit before taxation £1.1 million (2012: £0.9 million) +33%
  • Interim dividend pence per share 0.98 pence (2012: 0.94 pence) +4%
  • Diluted earnings per share before highlighted items* 2.89 pence (2012: 2.13 pence) +36%
  • Diluted earnings per share of 1.17 pence (2012: 0.84 pence) +39%

Operating highlights

  • Academic and Professional business growing
    • Division now represents 43% of Group adjusted operating profit (2012: 27%)
    • Acquisition of the academic law publisher, Hart Publishing, for up to £6.9 million
    • Drama Online subscriptions exceeded expectations
    • Winner of IPG Independent Publisher of the Year, Frankfurt Book Fair Academic & Professional Publisher of the Year and Academic, Educational and Professional Publisher of the Year
  • Adult division excellent first half sales and profits, strong second half list
    • The Signature of All Things - Elizabeth Gilbert
    • MasterChef: the Finalists
    • Paul Hollywood's Pies and Puds
    • Tom Kerridge's Proper Pub Food
  • Bestsellers across the Group include:
    • And the Mountains Echoed - Khaled Hosseini
    • Crown of Midnight - Sarah J. Maas
    • Shh! Don't Wake the Royal Baby - Martha Mumford and Ada Gray
    • MaddAddam - Margaret Attwood
    • The Bone Season - Samantha Shannon

* Highlighted items comprise amortisation of intangible assets, acquisition related costs, relocation costs and, in the prior year, Bloomsbury India set up costs.

Commenting on the results, Nigel Newton, Chief Executive, said:

"The Group has made a good start to the year. In line with the Company's growth strategy, Bloomsbury has made significant progress in developing the Academic & Professional division, most notably with the acquisition of Hart Publishing. Our Adult division enjoyed a very good interim result, reflecting an impressive new book programme including And the Mountains Echoed by Khaled Hosseini and The Bone Season by Samantha Shannon, as well as a flourishing cookery list.

We start the second half with a strong programme including MasterChef: The Finalists and The Signature of All Things by Elizabeth Gilbert."

 

For further information, please contact:

Daniel de Belder/Guy Scarborough, Pelham Bell Pottinger +44 (0) 20 7861 3232
Nigel Newton, Chief Executive, Bloomsbury Publishing Plc +44 (0) 20 7494 6015

 

Note: Adjusted results in the following statement exclude highlighted items.

 

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