Bloomsbury profit swells to record in H1; hikes dividend

Wed, 27th Oct 2021

Independent publisher Bloomsbury hiked its interim dividend after reporting record profit in the first half of the year, driven by growth in its consumer and non-consumer divisions. For the six months ended 31 August 2021, pre-tax profit 265% to £11.1 million year-on-year as revenue increased 29% to £100.7 million. In the consumer division, sales of bestsellers such as Tom Kerridge's 'Outdoor Cooking' and Susanna Clarke's 'Piranesi' bolstered performance. The company declared an interim dividend of 1.34 pence per share, 5% above the interim dividend for the six months ended 31 August 2020. Looking ahead, the company said it was 'confident' of achieving market expectations for the year ending 28 February 2022. Current consensus market expectation for the year ending 28 February 2022 was for revenue to be £193.4 million and profit before taxation and highlighted items of £19.3 million. Story provided by StockMarketWire.com

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