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Bloomsbury Publishing confidence boosted by new celebrity chef title

In the first quarter, non-consumer revenue was higher thanks to continued strong performance in the Academic & Professional division

tom kerridge
Tom Kerridge's titles have been major sellers for Bloomsbury

Bloomsbury Publishing PLC (LON:BMY) said it expects full year results to be in line with expectations, after issuing a trading update for its quietest quarter of the year.

As the group’s sales are historically weighted to the second half of the year, the company was confident about overturning a 3% decline in revenue for the first four months of its new financial year.

WATCH: Bloomsbury reports strong year delivering on its seven key growth initiatives

Bloomsbury expects strong second-half sales in the non-fiction arm as it revealed a new title from Tom Kerridge, Lose Weight and Get Fit, which will published in early December and accompanied by a six-part BBC television series of the same name, with the celebrity chef’s previous two titles have been significant sellers.

A partnership with the National Theatre, announced last month, is also expected to boost Bloomsbury Digital Resources and its Drama Online platform, providing a major expansion of its video offering.

In the first quarter, non-consumer revenue was higher thanks to continued strong performance in the Academic & Professional division.

Consumer titles struggled somewhat against a strong comparative period last year, which included unexpectedly high sales of Kitchen Confidential after the death of author Anthony Bourdain.

Top selling consumer titles in the period included the Harry Potter series and City of Girls by Elizabeth Gilbert, a tale of sexual awakening in 1940s that has reached the Sunday Times and New York Times bestseller lists, with Three Women by Lisa Taddeo number 1 on this week's Sunday Times non-fiction bestseller list.

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LSE:BMY
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Market Cap: £213.69 m
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