Bloomsbury in line for 18/19

News - Publishing Tuesday, 19 March 2019

'Strong' performance at academic division

Bloomsbury said this morning that it expected its annual results, to be reported on 21 May, to be "in line with the board's expectations".

There was a "strong" performance at the non-consumer academic and professional division in the year to 28 February. The special interest division published last month an international bestseller, In the Closet of the Vatican by Frederic Martel. The consumer division was performing "well", Bloomsbury said, with bestsellers in the second half including Sarah J Maas' Kingdom of Ash, Tom Kerridge's Fresh Start, and Mary Pipher's Women Rowing North.

Bloomsbury added that it had achieved strong cash generation, with net cash standing at about £27m at the end of the financial year.

Bloomsbury's shares were up 3p to 229p in early trading this morning, having closed last week at 234p.

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