Bloomsbury Publishing PLC Trading Update (7489F)
17 July 2019 - 4:00PM
UK Regulatory
TIDMBMY
RNS Number : 7489F
Bloomsbury Publishing PLC
17 July 2019
17th July 2019
BLOOMSBURY PUBLISHING Plc
("Bloomsbury")
Trading Update
Bloomsbury today announces its trading update for the four
months ended 30 June 2019. The Board expects the Group's
performance for the year ending 28 February 2020 to be in line with
management expectations.
As a second-half weighted Group, the first quarter traditionally
generates the smallest revenue of the full financial year. Total
revenues in the period were down 3% year on year. Non-Consumer
revenue grew in the period, with continued strong performance in
the Academic and Professional Division. This was offset slightly by
the Consumer division, against last year's strong comparator, which
included unexpectedly high sales of Kitchen Confidential. Top
selling Consumer titles in the period included the Harry Potter
series by J.K. Rowling and City of Girls by Elizabeth Gilbert,
which reached the Sunday Times and New York Times bestseller
lists.
Yesterday, it was announced that Three Women by Lisa Taddeo will
be Number 1 on this week's Sunday Times Non-Fiction bestseller
list.
Today Bloomsbury is also announcing that the publication of Tom
Kerridge's new title, Lose Weight and Get Fit, in December 2019,
will be accompanied by a six-part primetime BBC Two television
series of the same name. Tom Kerridge's Fresh Start and Lose Weight
for Good, which were also accompanied by TV series, have been
significant titles for Bloomsbury over the last two years.
In June, Bloomsbury Digital Resources announced a high-level
partnership with the National Theatre. This partnership further
endorses and enhances the profile of our award-winning Drama Online
platform, providing a significant expansion of its video offering
with major new content from the National Theatre.
The results for the six months ending 31 August 2019 will be
announced on 29 October 2019.
For further information, please contact:
Bloomsbury Publishing Plc +44 (0) 20 7631 5630
Nigel Newton, Chief Executive
Penny Scott-Bayfield, Group Finance Director
FTI Consulting +44 (0) 203 727 1000
Charles Palmer / Dwight Burden / Leah Dudley SCBloomsbury@fticonsulting.com
Notes to Editors
About Bloomsbury: Bloomsbury is a leading independent publisher
of fiction, non-fiction, children's, specialist, academic and
professional titles, listed on the London Stock Exchange. We are
one of the few publishers with a portfolio that includes both
general and academic publishing. Bloomsbury's ambitious growth
story has seen the Group become a significant global publisher with
offices in the UK, US, Australia and India.
Certain information in this announcement has not been audited or
otherwise independently verified and no representation or warranty,
express or implied, is made as to, and no reliance should be placed
on, the fairness, accuracy, completeness or correctness of the
information or opinions contained herein. None of the Company or
any of its affiliates, advisors or representatives shall have any
liability whatsoever (in negligence or otherwise) for any loss
whatsoever arising from any use of this announcement, or its
contents, or otherwise arising in connection with this
announcement.
This announcement does not constitute or form part of any offer
or invitation to sell, or any solicitation of any offer to purchase
any shares in the Company, nor shall it or any part of it or the
fact of its distribution form the basis of, or be relied on in
connection with, any contract or commitment or investment decisions
relating thereto, nor does it constitute a recommendation regarding
the shares of the Company. Certain statements, statistics and
projections in this announcement are or may be forward looking. By
their nature, forward-looking statements involve a number of risks,
uncertainties or assumptions that may or may not occur and actual
results or events may differ materially from those expressed or
implied by the forward looking statements. Accordingly, no
assurance can be given that any particular expectation will be met
and reliance should not be placed on any forward-looking statement.
Accordingly, forward-looking statements contained in this
announcement regarding past trends or activities should not be
taken as representation that such trends or activities will
continue in the future. You should not place undue reliance on
forward-looking statements, which are based on the knowledge and
information available only at the date of this announcement's
preparation.
The Company does not undertake any obligation to update or keep
current the information contained in this announcement, including
any forward-looking statements, or to correct any inaccuracies
which may become apparent and any opinions expressed in it are
subject to change without notice.
References in this announcement to other reports or materials,
such as a website address, have been provided to direct the reader
to other sources of information on Bloomsbury Publishing Plc which
may be of interest. Neither the content of Bloomsbury's website nor
any website accessible by hyperlinks from Bloomsbury's website nor
any additional materials contained or accessible thereon, are
incorporated in, or form part of, this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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