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Bloomsbury Publishing pushes higher with book firm firing on all cylinders

The company has four divisions: Bloomsbury Academic and Professional; Bloomsbury Content Services; Bloomsbury Adult Publishing and Bloomsbury Children's Publishing

Sarah Maas's Kingdom of Ash book cover
The company has more than one wildly popular female author of fantasy fiction

Bloomsbury Publishing PLC (LON:BMY) shares rose on Tuesday as the publisher of the Harry Potter blockbusters said trading in the fiscal year just ended was in line with the board's expectations.

The FTSE All-Share listed group said its Non-Consumer Academic and Professional division continued its strong performance in the year to the end of February, seeing organic growth in revenue and an improvement in margins.

WATCH: Bloomsbury Publishing's Nigel Newton discusses trading and bestsellers

In the Special Interest division, February included the international bestseller In the Closet of the Vatican, by Frédéric Martel.

The Consumer division delivered a number of bestsellers in the second half of the fiscal year, including Sarah Maas's Kingdom of Ash, Tom Kerridge's Fresh Start and Mary Pipher's Women Rowing North.

In a note to clients, analysts at Peel Hunt said: “Bloomsbury continues to show strong cash generation with net cash expected to be c£27m at the end of FY19.”

They pointed out that Bloomsbury shares trade on 14 times its full-year 2010 price ratings ratio (PER), and repeated a ‘buy’ rating and 270p price target on the stock.

In early afternoon trading, shares in Bloomsbury Publishing were 6.2% higher at 240p.

 -- Adds analyst comment, share price --

Quick facts: Bloomsbury Publishing PLC

Price: 210 GBX

LSE:BMY
Market: LSE
Market Cap: £171.38 m
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Nigel Newton, Bloomsbury Publishing PLC’s (LON:BMY) chief executive, says it has more best sellers on the way to follow up a great twelve months for its adult consumer section in the year to February. Rutger Bregman’s Human Kind, for example, has already racked up sales of 24,000 and is a story...

on 20/5/20

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