Sparks

Bloomsbury’s full year results show the benefits of having a wide portfolio across genres and markets. On the consumer side of the business, the previous year had been an exceptional performance on the margin front, and this has now moved back to a more normal level of around 12%. There is a strong slate of releases scheduled for the current financial year, including the paperback editions of Sarah J. Maas’s House of Flame and Shadow, and of Gillian Anderson’s Want. On the non-consumer front, the budgetary pressures on the academic markets in the US and UK were inevitably going to present a challenge, which the group is tackling through increasing its geographical reach, with Singapore opening a new front, and through building up its content – particularly in terms of digital resource. The acquisition of Rowman & Littlefield during the year ensured good progress in both revenue and profit for the year for Bloomsbury’s Academic and Professional division, despite the market pressures. Strong cash flow is helping the group pay down the debt associated with the acquisition more quickly than anticipated, giving the resource to allow for continued investment. CFO Penny Scott-Bayfield has announced her intention to move on, and a search is underway for her successor.