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Bloomsbury Publishing PLC says it still has routes to market even with bookshop shutdowns

Bloomsbury Publishing PLC’s (LON:BMY) chief executive Nigel Newton says it still has some routes to market even though nearly all book shops are shut due to coronavirus lockdowns.

Online retailers such as Amazon, Tesco and Waterstone’s are still selling books, while Bloomsbury has its own website, he says.

Audio books are doing well and e-books are coming into their own, but prior to the lockdown some 79% of its income came from print sales.

The Harry Potter publisher has just raised £8.4mln as a cash buffer to get it through the coronavirus crisis and wants permission to pay its final dividend in shares as a scrip issue.

If approved, it will be the 25th year running it has increased the payout, said Newton.

Quick facts: Bloomsbury Publishing PLC

Price: 265 GBX

Market: LSE
Market Cap: £216.26 m

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on 27/10/20

2 min read