Profit and sales up at Haynes

Profit and sales up at Haynes

Manuals and DIY publisher Haynes Publishing has reported pre-tax profits of £7.18m, up from £7.17m in 2010, for the year ended 31st May 2011.

Like-for-like sales were up 1% to £33.76m from £33.31m in 2010. Segmental operating profits rose by 10% in the UK and European markets, up to £2.4m, compared with £2.19m in 2010.

Sales of Haynes' top 10 bestselling manuals were up 20%, with UK and European revenue overall ending the year down by 3% on last year at £14.43m, down from £14.93m in 2010.

Group chief executive Eric Oakley said: "We enter the new financial year in a strong financial position, with cash in the bank and an exciting list of new products coming up. We are however mindful of challenging global economic conditions.

"As well as creating an electronic version of the classic maintenance manuals, which we believe will complement the printed product, we are continuing to explore digital options for our wider interest titles. Whilst to date the e-book has concentrated predominantly on black and white fiction titles, new technology and platforms means opportunities for our wider interest, illustrated titles are not too far away."