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Bertrams grows revenue 32.5%
10.07.12 | Lisa Campbell
Bertrams like-for-like revenue has risen 4.3% in the last three quarters as its total sales soared 32.5%, helped by the acquisition of Dawson Books in June last year.
The books wholesaler’s parent company Smiths News has reported interim financial results for the 44 weeks to 7th July 2012 this morning, forecasting that its end of year profits to 31st August will be “be at the top end of market range.”
In a statement, Smith News said: “Both UK wholesale and international are trading marginally above last year with Library Services continuing to trade well above last year.”
Smiths News Group as a whole increased revenues 3.3% year-on-year, which it attributed to the acquisition of Dawson Books and consumable goods distributor The Consortium, which it bought for £38m in April.
The company admitted net debt by 30th June was higher than on 28th February 2012 as a result of buying The Consortium but added that it “continues to operate well within its bank facilities.”
Last month, Bertrams also announced it had bought Dutch-based academic books supplier Houtschild Internationale Boekhandel from Blackwell for €0.7m, which would help it grow digital sales in Northern Europe, particularly in Germany, the Netherlands and the UK, where Houtschild mainly trades but does not yet have an e-book capability.
Bertrams end of year financial results will not be posted until 16th October 2012.