(NewsDirect)
Bloomsbury Publishing Plc Chief ExecutiveOfficer Nigel Newton joined Steve Darling from Proactive to shareexciting news about the company's outstanding performance, markedby a remarkable 57% rise in annual profits. Bolstered by strong salesof titles from acclaimed authors like Sarah J Maas, Katherine Rundell,and Samantha Shannon, as well as the enduring popularity of the HarryPotter series, Bloomsbury Publishing is experiencing a surge insuccess.
Maas, whose latest book'Crescent City: House of Flame and Shadow' soared to thebestseller list in January, achieved an impressive 161% growth insales, contributing significantly to the 49% jump in revenues fromBloomsbury's consumer division.
Overall, the publisher's revenues surged by 30% to £342.7million in the 12 months ended February 29, resulting in pre-taxprofits of £48.7 million. Shareholders are set to benefit from adividend of 39.11p per share, marking a substantial 59% increasecompared to the previous year.
Buoyed by its exceptional performance, Bloomsbury is confidentin exceeding current consensus expectations for revenue and profit inthe 2024/25 fiscal year. With a robust cash balance of £65.8 million,the company is well-equipped to invest in its business, authors,employees, and organic growth initiatives.
Having completed 33acquisitions since its inception, Bloomsbury remains actively engagedin seeking further opportunities, particularly in the realm ofacademic publishing. Newton attributes the company's success tothe exceptional talent of its authors, the dedication of its globalworkforce, and its unique blend of literary and scholarlypublishing.
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