Atlantic sees 7% revenue rise as Atkinson hails best profits for 10 years

Atlantic sees 7% revenue rise as Atkinson hails best profits for 10 years

Atlantic saw its net revenue increase by just over 7% in the year ending 31st December 2020, rising from £6.1m to £6.6m, with m.d. Will Atkinson hailing the best profits in 10 years despite a coronavirus-hit 12 months.

The press also recorded a 7.4% rise in book sales from £5.9m to £6.3m, with a pre-audit profit of £315,000, up from £20,000 the year before.

Non-fiction frontlist revenues increased by 28%, doubling since 2017, with bestsellers including Why the Germans Do It Better by John Kampfner and A Bit of a Stretch by Chris Atkins. Scoff by Pen Vogler sold 27,000 hardbacks in just two months, according to the publisher, and received seven mentions in books of the year lists. "This was a particularly canny buy by [senior editor] James Nightingale with a four-figure advance," Atkinson said. 

Atkinson told The Bookseller the company would have fared better had bookshops been open for the entirety of the year. 

"We survived without bookshops but frankly we're nothing without them, we had a miserable first three months," he admitted. "However, we're on a virtuous circle at the moment, with better publishing every year."

Atkinson commented: "Creation of a 5% profit, although hardly stellar, was the best result for Atlantic in 10 years. At 7.2% of turnover, the generation of £417,000 of cash is a surer guide to our success in 2020."