19th Mar 2020 14:42
(Alliance News) -Â Bloomsbury Publishing PLC on Thursday said its performance for its recently-ended financial year was in line with expectations.
The publisher added that its financial position is "strong" with net cash of GBP31 million at February 29, being the end of the financial year.
The Non-Consumer Academic & Professional division had a strong performance, with both revenue and margin growth. Meanwhile, the Consumer division delivered "many bestsellers" in the second half, such as 'Dishoom: From Bombay with Love' and 'Harry Potter and the Goblet of Fire Illustrated Edition'.
Looking ahead, Bloomsbury said it is "unclear" how coronavirus will impact its performance as it is early in the new financial year.
"There is disruption to bookshops, online retailers and academic institutions, whilst on the other hand, reading books, including print books, is likely to be popular at home. Ebook and audio book downloads will be available for people to order from home," said Bloomsbury.
Shares in Bloomsbury were up 10% at 212.00 pence in London on Thursday.
By Lucy Heming;Â [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Bloomsbury