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Hachette UK has had a “solid start to the year for sales”, the company’s c.e.o. Tim Hely Hutchinson has said.
He was speaking as Hachette’s parent company Lagardere released its results for the first quarter of 2014.
Lagardere said results for its publishing arm across the world, which includes Hachette UK, were down 6.3% on a reported basis, due “mostly to the comparison effect with a first quarter 2013 that benefited from many bestsellers (specifically the Fifty Shades trilogy, which had sold 1.8m copies in France)”.
In the English-speaking countries, Lagardere said “business was down slightly due to a lower programme of titles and to some postponements of releases”.
In the UK, Hachette said it reported strong sales, ending the first quarter “well on budget”. The company’s digital sales remain “very buoyant, recording an increase of 22% on the same period in 2013”. Hodder Education’s sales were also significantly ahead of budget, said Hachette UK.
Hely Hutchinson said: “We have had a solid start to the year for sales, and an exciting start to the year in respect of investments for the future. Our digital sales continue to beat the general trend of a slowdown. We have had a very diverse range of print bestsellers in the quarter and we are backing our publishing with innovative marketing, supported by new initiatives in consumer insight and brand development.
He added: “We are very pleased to welcome the fine firms of Constable & Robinson and Quercus to our group. They will add much to the depth and range of our publishing. The publishing talent that comes with them is remarkable and together we are looking forward to another very strong year.”