Bloomsbury Publishing PLC Capital Markets Day and Business Update (9947D)
13 July 2016 - 4:00PM
UK Regulatory
TIDMBMY
RNS Number : 9947D
Bloomsbury Publishing PLC
13 July 2016
Bloomsbury Publishing Plc
Capital Markets Day and Business Update
13 July 2016
Capital Markets Day
Bloomsbury Publishing Plc ("Bloomsbury") is holding a Capital
Markets Day today for investors and analysts at its office in
Bedford Square, London. This will showcase the Bloomsbury 2020
growth plan. This new digital publishing plan will target
significant growth in digital revenues over the next five years,
moving Bloomsbury towards being a non-consumer publisher in the B2B
academic and professional information market, as well as a leading
consumer publisher, building on Bloomsbury's proven success in this
area to date. No new material financial information is being
presented at the meeting. The presentation will subsequently be
published on Bloomsbury's website, www.bloomsbury-ir.co.uk.
Business Update
The Board continues to expect trading for the financial year to
be in line with our expectations. In the three months ended 31 May
2016 total revenues are up by 9% year on year driven by Children's
publishing within our Consumer division. Sales for digital
resources are up by 97% year on year. This quarter traditionally
generates the smallest profit of any quarter in our financial
year.
We are also announcing today an anticipated increase in profits
in Australia of GBP500,000 per annum from the start of our new
financial year on 1 March 2017. Bloomsbury's current sales and
distribution contract in Australia ends on 31 December 2016.
Agreement has now been reached on a new basis which will see
Bloomsbury continuing with its existing partners in Australia and
New Zealand, but taking in house responsibility for selling to head
office accounts of customers which comprise about half of ANZ
sales. This brings substantial savings of sales commission payable
against which are set the cost of in house key account managers. We
expect this to lead to an increase in profit, based on higher sales
into key accounts. Field sales to accounts in Australia and New
Zealand will continue to be provided by Bloomsbury's partner of the
last 30 years.
Bloomsbury is pleased to announce that it has acquired eight new
titles from the New York Times bestselling novelist Sarah J. Maas,
in a major deal that includes six new titles in the A Court of
Thorns and Roses series and two new ones in the Throne of Glass
series. These series have been huge successes, with A Court of Mist
and Fury recently being a number one New York Times Young Adult
bestseller for more than six weeks. The combined series have had
sales of over three million copies to date.
Our digital resource Drama Online has just acquired exclusive
worldwide online education platform rights for the BBC's critically
acclaimed film adaptations of Shakespeare's history plays The
Hollow Crown: Series One and Two. They will both be streamed
through our academic subscription service Drama Online later this
year. Together with the forthcoming new BBC Drama Film Adaptations
collection, video content is now set to double in Drama Online.
The results for the six months ending 31 August 2016 will be
announced on 27 October 2016.
For further information, please contact:
Daniel de Belder/Charles Stewart, +44 (0) 20
Bell Pottinger 3772 2500
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Nigel Newton, Chief Executive, +44 (0) 20
Bloomsbury Publishing Plc 7494 6015
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This information is provided by RNS
The company news service from the London Stock Exchange
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