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John Smith grows by nearly 11%

25.03.08 Tom Tivnan

Academic bookseller John Smith & Son saw a rise in turnover last year, boosted by shop openings and strong growth in its legal books business.

Turnover hit £28.3m in year end results to 31st May 2007, a rise of 10.6% from the previous year. The chain showed a modest profit of £203,000, an increase of 30.5% on 2006.

The UK campus division had the strongest showing of John Smith’s three core businesses. Turnover for the division rose 22% due to new store openings at Sussex University and Queen Mary College in London, an additional branch at Aston University and an enlarged site at Thames Valley University. Like for like sales for the division were up by 7.3%. The company’s international business at the University of Botswana saw sales rise by 14%.

The professional division grew by 9.7%, with strong growth in the Hammicks legal books and subscriptions business offset by a slight reduction in medical sales. During the year, Rob Gray joined the company as board director responsible for all areas of the Hammicks Legal operation.
Peter Gray, John Smith's chairman and c.e.o., said: "In a challenging market, John Smith & Son is continuing to grow sales and to invest in the future development of the business."

Gray said that in the current year, the campus division has had a "strong" start, with an excellent non-book performance. Gray added: "We are continuing to work closely with our host institutions and key publishing partners to deliver innovative solutions to meet the changing teaching and learning needs of the university sector. Over the coming months, we anticipate announcing a number of important further developments in both the UK and Africa."

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