Bloomsbury hails bestsellers as it looks set to deliver on guidance
Bloomsbury today said its 2018 results will live up to expectations as bestsellers such as Mary Pipher’s Women Rowing North helped bolster the company’s top line.
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The publisher's special interest division, which includes non-fiction titles, was boosted by international bestseller In the Closet of the Vatican by Frederic Martel.
Its consumer division saw good performance in the second half of the year to the end of February, with books including Kingdom of Ash by Sarah J Maas and chef Tom Kerridge’s Fresh Start.
The non-consumer and academic and professional unit “continued its strong performance, with organic revenue and margin growth”, the company said.
The division, which celebrated its first decade last year, was boosted by the acquisition of IB Tauris in May. The published focuses on Middle East studies and international relations.
Bloomsbury’s shares jumped in the weeks after the acquisition, as it showed record revenue and profits up 10 per cent in its 2017 results.
Bloomsbury publishes around 1,200 titles per year.
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Due to publish its final results on 21 May, Bloomsbury said net cash will total around £27m.