News

« Headlines

Anova back in the black

09.01.08 John Ryan

Anova has eased from loss into profit in its first full-year results since it was acquired by management from former parent Chrysalis in November 2005.

In the three-month period to end-February 2006, Anova recorded a pre-tax loss of £359,094, contrasting sharply with a £186,367 profit on sales of £14.1m for the year to end-February 2007.

"Previously, Chrysalis Books had been loss-making and I think it's a vindication of our strategy of not chasing the top line and going instead for careful cost control," said c.e.o. Robin Wood. He added that Anova had experienced a strong, "above budget" Christmas in 2006, which contributed to the positive result.

More than half (58%) of Anova's sales over the period came from overseas, with the US market almost equalling the £5.9m in sales from the UK. Sales from the rest of Europe and Australasia accounted for 15.4% of total revenue.

Wood said 2007 had proved "challenging" in the spring and summer, but that this Christmas Anova increased the number of books it promoted, and had its best ever season with Amazon.

Top titles included Whatever happened to Tanganyika, erotic novella series Agent Provocateur and TV property pundit Sarah Beeny's Price the Job. "We're not a publisher that relies on one title to go racing to the top of the bestseller list," said a bullish Wood, who was optimistic about prospects for the forthcoming year.

Financial John Ryan Anova

See Also