Profits surge at HarperCollins during 2010

Profits surge at HarperCollins during 2010

Profits at HarperCollins surged £25.3m due to "exceptional rights income" in its most recent set of financial results filed at Companies House.

For the year ending 30th June, operating profit increased to £29.1m. Turnover was up from £242.4m in 2009 to £242.8m in 2010. The results include the UK, India, New Zealand, Australia and Canadian markets. In India, sales were up 22% year on year and international sales were up 15%.

The company said: "[The results] were largely due to exceptional rights income for the year. Investment in our digital businesses has resulted in a significant increase in profit this year. All in all, this was a good result in a transitional year when the company was investing heavily for future growth and received a boost from the exceptional rights income."

During the financial period, HarperCollins bought the Huveaux education businesses, Letts, Leckie & Leckie and Lonsdale and also entered a partnership with language social networking site LiveMocha. HarperCollins said it had 57 books in the Sunday Times top 10 bestseller lists during the period, including 10 number ones. It identified Man Booker-winner Wolf Hall, memoirs by Frankie Boyle, Andre Agassi, Chris Evans and new fiction by Cathy Kelly and Josephine Cox as among its highlights.