Bloomsbury bolstered by academic demand with 28% revenue growth
Publishing house Bloomsbury has reported a double digit revenue rise in its latest trading update.
For the four month period ended June 30 2021, the company saw year-on-year sales growth of 28 per cent.
Bloomsbury’s consumer division revenues were 26 per cent ahead of last year, with adult revenues up by 17 per cent and children’s revenues increased by 32 per cent.
The overall growth was driven by the firm’s non-consumer division, which saw a revenue increase of 31 per cent - largely due to strong demand for Bloomsbury Digital Resources which was 41 per cent ahead of the previous year.
The company has also attributed its performance to its recent acquisitions, as part of its ongoing growth strategy.
The firm stated: “Bloomsbury is pleased with the performance of our business for the first four months of the year and the strong June sales of its two new acquisitions, Red Globe Press and Head of Zeus.
“We are actively targeting further acquisition opportunities in line with our long-term growth strategy. The Board expects the Group’s performance for the year ending 28 February 2022 to be in line with market expectations.”
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