REG - BloomsburyPublishing - Trading Update

Bloomsbury PublishingAnnouncement

19/03/2018 16:40

RNS Number : 1978I
Bloomsbury Publishing PLC
19 March 2018
 

19 March 2018
 
BLOOMSBURY PUBLISHING Plc
("Bloomsbury")
Trading Update
 
Bloomsbury Publishing Plc is pleased to report that for the year ended 28 February 2018, while revenues are slightly ahead of expectations, profits will be well ahead of the Board's expectations.
 
This follows excellent sales, particularly in January and February, with lower than anticipated returns, driven by certain titles including Tom Kerridge's Lose Weight For Good, which has been number one in the Overall Nielsen BookScan UK chart for four weeks since its publication on December 28th 2018. In one week the title sold over 70,000 copies, more than any book has ever sold in the UK in a week in January, according to the Nielsen BookScan records.
 
In addition, the Group's net cash balance is now expected to be around £25m, significantly ahead of expectations.
 
The Group will report its final results for the year ended 28 February 2018 on 22 May 2018.
 
 
For further information, please contact:




Bloomsbury Publishing Plc


+44 (0) 20 7631 5630




Nigel Newton, Chief Executive
Wendy Pallot, Group Finance Director


 




FTI Consulting


+44 (0) 203 727 1000




Charles Palmer / Dwight Burden / Emma Hall / Leah Dudley


SCBloomsbury@fticonsulting.com




 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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