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Bloomsbury Publishing lifts profit outlook as lockdowns spur reading activity
StockMarketWire.com
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Publishing company Bloomsbury Publishing lifted its annual profit and revenue expectations thanks to strong performance in its consumer division amid a surge in reading during the Covid-19 lockdowns.
For the 12 months ending 28 February 2021, revenue was expected to be ahead and profit before tax and highlighted items 'well ahead' of market expectations of £161.8 million and £12.1 million, respectively, the company said.
'This follows continued strong trading in the consumer division, for both adult and children's publishing, the company said.
'Standout bestsellers in the second half to date include the new titles Eat Better Forever by Hugh Fearnley-Whittingstall, Outlawed, Joe Biden - American Dreamer and Humankind, as well as strong backlist sales of Harry Potter, Sarah J. Maas, Why I'm No Longer Talking to White People About Race, Such A Fun Age and Dishoom,' it added.
At 8:10am: (LON:BMY) Bloomsbury Publishing PLC share price was 0p at 258p
Story provided by StockMarketWire.com
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