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Bloomsbury resumes dividend as first-half profit jumps
StockMarketWire.com
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Independent publisher Bloomsbury resumed its dividend after reporting a sharp uptick in profit in the first of the year, driven by excellent performance in its consumer division.
For the six months ended 31 August 2020, pre-tax profit grew 60% to £4.0 million year-on-year as revenue increased by 10% to £78.3 million.
'This has delivered our highest first half earnings since 2008 and exceeded the board's expectations,' the company said.
Consumer revenue grew 17% to £48.6 million, while non-consumer revenue was £29.7 million, down from £29.9 million.
The interim dividend was 1.28 pence per share, unchanged from last year's 1.28 pence per share.
'We have continued to trade well during the first six weeks of the second half. In previous years, our revenue and earnings have been weighted towards the second half, with sales of trade titles rising for Christmas and sales of academic titles being strongest at the beginning of the academic year in the Autumn,' the company said.
At 8:32am: (LON:BMY) Bloomsbury Publishing PLC share price was +25p at 235p
Story provided by StockMarketWire.com
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