Bloomsbury Publishing expects a "wealth of titles" to keep driving growth this year
London, UK
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July 25, 2023 07:21 AM Eastern Daylight Time
Bloomsbury Publishing PLC (LSE:BMY) founder and chief executive Nigel Newton CBE speaks to Thomas Warner from Proactive following the leading independent publishing house's AGM and the release of a trading update for the four months to 30 June 2023.
Newton gives an overview of how Bloomsbury has been performing, highlighting a 9% growth in revenues during the reporting period which he attributes to continued strong demand for books as an affordable household expenditure. He lists some of the books that contributed to growth in revenues, which included titles from Peter Frankopan, Louise Kennedy and Sarah J. Maas, before going on to summarise the outcome of the 2023 AGM.
He says that Bloomsbury's strong cash position will be used to help drive future growth, with acquisitions possible. In terms of organic growth he anticipates good sales of titles scheduled for publication between now and the end of the calendar year, which will include works by Ann Patchett, Katherine Rundell, and a new illustrated Harry Potter title called "The Wizarding Almanack."
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