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First half growth of 6% at Hachette UK

30.07.08 Neill Denny

First-half sales growth at Hachette Livre UK outpaced the wider Hachette books business, according to UK c.e.o. Tim Hely Hutchinson. Speaking to The Bookseller, Hely Hutchinson reported a strong first half of the year, with sales up 6%, partly due to a lower level of returns from last Christmas.

Last week French parent Lagardere reported that its worldwide publishing business saw first half sales rise by 1.3% to €908m, or by 4.5% on a like-for-like basis. Hely Hutchinson said margins and profits "both held up well" in the UK but he would not give figures.

Hely Hutchison would not rule out further acquisitions over the next three years to take the group further ahead of close rival, and "worthy opponents", Random House.

"Private equity players have had their wings clipped and therefore prices are a little cheaper and a little more realistic'" he commented. Generally Hachette funds purchases from existing reserves. "Who is on top by 2011 will depend on who buys what over the next three years".

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