19th May 2015 07:56
LONDON (Alliance News) - Bloomsbury Publishing PLC Tuesday posted a small rise in pretax profit for its recently ended financial year, and said that trading in its current year has been good across all of its divisions.
The independent publishing company proposed a final dividend of 5.08 pence, taking its total dividend for the year to 6.10 pence, up from 5.82 pence.
For the year to end-February Bloomsbury posted a pretax profit of GBP9.6 million, up slightly from GBP9.5 million a year before, as a rise in revenue to GBP111.1 million from GBP109.5 million was partly offset by rises in operating costs.
The company said it saw good performances from its Children's and Educational division, and its Academic and Professional division, with strong digital and UK rights revenue offsetting lower print sales.
It completed the acquisition of Osprey Publishing last December, and it contributed GBP1.2 million in revenue for the year.
"Our focus remains on growing academic, professional, special interest and educational revenues to reduce the overall exposure of the business to the traditional book market. During the coming year we will also continue the building of our digital presence, launching the new online portals Bloomsbury Fashion Central and the Fashion Photography Archive," said Chief Executive Nigel Newton in a statement.
Shares in Bloomsbury are trading up 0.8% at 179.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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