13th Jul 2016 08:20
LONDON (Alliance News) - Bloomsbury Publishing PLC Wednesday said it continues to expect trading for its full year to be in line with its expectations, as it saw revenue rise 9% in its first quarter.
The company said its revenue in the quarter to end-May were up 9%, driven by its children's publishing unit within its Consumer division. Bloomsbury noted this quarter is traditionally its smallest in terms of profit.
It expects to see a GBP500,000 rise in profit in Australia in its next financial year, as it has reached an agreement under which it will continue working with its existing partners in Australia and New Zealand, but will be taking in-house responsibility for selling to head office accounts.
Bloomsbury said it has acquired eight new titles from novelist Sarah Maas, including six new titles in the 'A Court of Thorns and Roses' series, and two in the 'Throne of Glass' series.
Bloomsbury will report its results for the half year to end-August on October 27.
Shares in Bloomsbury were up 3.6% at 162.69 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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