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Directors profit at Bloomsbury

29.05.08 Benedicte Page

Bloomsbury chief executive Nigel Newton earned a total of £740,000 last year, according to the publisher's annual report. Newton received a £364,000 bonus on top of his £362,000 salary, with an additional £14,000 in other benefits.

Group finance director Colin Adams earned £423,000, including salary and bonus, while publisher Liz Calder's total pay was £145,000. Richard Charkin, appointed to Bloomsbury in October as an executive director, received £71,000 with no bonus paid.

In total Bloomsbury directors enjoyed an 85% pay rise, boosted by the bonus pay-outs which were not awarded in 2006. 

The report also provides an international breakdown for Bloomsbury’s 2007 group results which were announced in April and showed a doubling of turnover to £150.21m.

UK revenue was up 138.1% to £128.29m last year. Revenues from Continental Europe, generated by Berlin Verlag, increased by 45.1% to £8.53m, with strong predictions for 2008 on the back of the lead title Die Wohlgesinnten by Jonathan Littell. However "tough market conditions" were blamed for a 10.8% drop in revenues from Bloomsbury USA, down to £13.39m. High levels of returns and new publishing lists yet to build critical mass were said to be other factors in the US performance.

Sales across the group for the first quarter of 2008 were described as "encouraging."

Financial Benedicte Page Richard Charkin Bloomsbury Home Nigel Newton

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Comments on this article

By D. Sgruntled

Is that why we can't have an assistant?

29 May 08 15:50

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By Jolly well done chaps!

Who needs decent budgets and buoyant staff morale anyway?

29 May 08 16:45

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By anonymous

I'm sure the recently-'let go' reps will be thrilled to hear this.

29 May 08 16:47

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By Alcibiades

I just cannot understand these negative responses. Why can posters not just grandly accept the success of the J.K. Rowling Trust? Bloomsbury have such an established record that criticism of Nigel seems so churlish. They have some excellent forthcoming titles and no doubt Ms. Rowling may well set them up as a fully funded charitable trust. I am sure that the 'let go' reps left with a comfortable handshake and a warm embrace from David Ward.
Comment edited, 30th May

29 May 08 19:00

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By David R N Livesley - Woodstock Vermont

I'm sure the reps who have gone will have gone with a healthy bank balance....if not post away chaps for this is democracy in action! However if you have got a healthy pay off....visit us in Vermont!!!!!
Comment edited, 30th May

30 May 08 02:09

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By booklover

A triumph of greed over taste and decency. This money should be spent on finding, nurturing, and marketing new writing. And on developing talent in-house. Instead it's being siphoned off to feather comfortable second nests. Authors, and agents, take note.

05 Jun 08 14:59

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By retired publisher

What a load of misery ! Nigel started Bloomsbury in 1986 at great personal and financial risk and over the years has made a bloody good job of it. Bloomsbury has looked after the Harry Potter money wisely and reinvested for post Potter. If staff come and staff go so be it; sales and distribution isn't a static science and changes in the industry mean that changes have to be made. Old style repping in 2008 won't work.

10 Jun 08 15:18

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