Bloomsbury Publishes Audited Preliminary Results for the year ended 28 February 2023

“We are delighted to have achieved these record results with sales up 15% to £264.1 million and profit up 16% to £31.1 million. Compared to two years ago, sales are up 43% and profits up 62%. Our growth outperformed the industry which was up 4%1. These results demonstrate the strength of our strategy to publish for both the consumer and the academic markets, unusual in our industry, and to grow digital revenues while expanding globally.

In challenging economic times, readers are turning to books as affordable as they cut back on more expensive forms of diversion.

Our long-term strategy to invest in digital content, which has delivered strong growth and cash, which enables future strategic investment in both our academic and consumer markets and potential acquisitions – the flywheel of Bloomsbury.

Bloomsbury Digital Resources (“BDR”) continues to deliver high margin, quality, repeatable revenues, with sales growth of 41% driven by organic and acquired assets. This drove the Non-Consumer division’s revenue growth of 19% and a 43% increase in profit before tax and highlighted items2 to £13.1 million. Resilient demand for our books saw the Consumer division revenue grow by 12%, achieving a 2% increase in profit before tax and highlighted items2 to £18.1 million.

We have signed a further four book contract with Sarah J. Maas on top of the three books already under contract, as announced in March. Also, in April, HBO Max announced a new Harry Potter television series, over a decade, with each season dedicated to one of the seven books. A Bollywood streaming version of William Dalrymple’s The Anarchy is being planned and The Three-Body Problem, the bestselling trilogy by Cixin Liu, is in production at Netflix.

In recognition of our strong performance and in line with our progressive dividend policy, the Board proposes a 10% increase in our final dividend to 10.34 pence per share.
details at: https://www.bloomsbury-ir.co.uk/media/press_releases/2023/310523

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