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Bloomsbury has reported a a 19% rise in revenue year on year for the first three months of its financial year.
In an interim management statement released today (11th July), the publisher revealed that revenues had grown at each of its global divisions in the three months ended 31st May, with Bloombsury's adult division achieving growth of 21% year on year.
The publisher's annual results for year ended 28th February 2013 showed a turnover of £98.5m, up 1% from the figure of £97.4m the year before. Profits before tax were £9.8m, up 16% on the previous year.
Bloomsbury also saw a further growth in its e-book revenues in the first three months of the year. While print title revenues increased 16%, there was also a 31% increase in digital title revenues. There was also a 25% increase in rights and services revenues.
Chief executive Nigel Newton said: "We have made a good start to the year with all our global divisions growing their revenues in the first quarter. In particular, the strength and depth of our Adult list is shown by growth of 21% generated across a range of areas including cookery and best-selling novelists such as Khaled Hosseini whose new novel And the Mountains Echoed has got off to a flying start. We remain well positioned to deliver on our strategy for growth as the synergies and sales advantages of having delivered a unified publishing group continue to come through."
As well as As The Mountains Echoed, which saw half of its sales in e-books, the statement also picked out Paul Hollywood's Bread and How To Bake and Wisden Cricketers' Almanack as strong titles for the company.
http://www.bloomsbury-ir.co.uk/html/media/press_releases/2013/110713.html
http://www.thebookseller.com/news/digital-leap-bloomsbury.html