Company
LON:BMY
Bloomsbury Publishing PLC is a leading independent publishing house, established in 1986, with authors who have won the Nobel, Pulitzer and Booker Prizes, and is the originating publisher and custodian of the Harry Potter series. The company has offices in London, New York, New Delhi, Oxford and Sydney.
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"The surge in reading, which seemed to be one of the only rays of light in the darkest days of the pandemic is perhaps now being revealed as permanent," said CEO Nigel Newton
Peel Hunt increased its price target by 25p a share to 425p and retains its ‘buy’ recommendation
There have been bumper sales of Sarah J Maas' new title, Crescent City: House of Sky and Breath
The CEO also stressed that a strong element of the company’s outperformance was publishing the right books that people wanted to read
Trading continued to be strong in the Consumer division, for both Adult and Children's publishing
The acquisition significantly grows its academic and digital publishing presence in North America and opens new markets and publishing areas, the UK publishing group said
The company is showing its structure and prudent management is working to investors’ advantage
Retailers and online booksellers have significantly increased stock levels over previous years to ensure they have sufficient stock for Christmas given the supply chain problems, said CEO Nigel Newton
Gurnah’s 10 novels include the Booker prize shortlisted Paradise and, most recently, the Orwell prize shortlisted Afterlives
Archive
A look at some of today's major headlines from the Proactive newswire
Revenues were up 28% on this time last year, led by children's and academic & professional titles
Peel Hunt expects revenues this year to grow to £195mln and profits to £19.5mln
Shareholders get a special dividend of 9.78p per share
Consumer sales jumped 7% to £2.1bn in 2020 led by fiction titles and audiobooks
The independent publisher is acquiring Red Globe Press from Macmillan Education for £3.7mln
"The popularity of reading during lockdown is a ray of sunshine in an otherwise very dark last year"
The broker has moved to ‘add’ from ‘hold’ but kept its 290p price target
Books on running and career development are proving popular in 2021
Interim results in October were ahead of expectations while the trading update at the end of January again had brokers rushing to upgrade their forecasts
The publisher will forever be associated with the Harry Potter phenomenon and its children's publishing arm continues to fire on all cylinders
