REG - BloomsburyPublishing - Trading Update and Board Appointment

Bloomsbury PublishingAnnouncement

20/03/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250320:nRST3829Ba&default-theme=true

RNS Number : 3829B  Bloomsbury Publishing PLC  20 March 2025

BLOOMSBURY PUBLISHING PLC

("Bloomsbury" or "the Company")

 

Trading Update and Board Appointment

Strong year end for Bloomsbury - Trading ahead of consensus expectations

Bloomsbury Publishing Plc (LSE: BMY), the leading independent publisher, today
announces its trading update for the full year ended 28 February 2025.

Bloomsbury's trading for the year ended 28 February 2025 is ahead of consensus
expectations* following a strong performance in the second half. Success
within the Consumer division was broadly based across our portfolio. The
acquisition of Rowman & Littlefield in May 2024, where integration is
progressing very well, drove growth in the Non-Consumer division. Bloomsbury
Digital Resources grew for the full year despite the budgetary pressures,
highlighted at the interim results, in our core academic markets.

This strong performance and the associated cash generation has enabled us to
pay down $7.5m of the $37m debt associated with the acquisition of Rowman
& Littlefield ahead of schedule.

The Company's robust performance is powerfully driven by determined execution
of the Bloomsbury 2030 vision, focused on our growth, portfolio and people.
Our authors, customers, consistent performance, and the scale and resilience
of our business continue to underpin the confidence we have in the future. We
will provide further details on trading and outlook with our Preliminary
Results announcement on 22 May 2025.

Board Appointment

Bloomsbury is pleased to announce the appointment of Dame Heather Rabbatts to
its Board as a Non-Executive Director with effect from 14 April 2025 and who
will become a member of the Audit, Remuneration and Nomination Committees. She
is the Senior Independent Director at Associated British Foods plc and M&C
Saatchi Group PLC and was formerly a Non-Executive Director at Kier Group plc.
**

* The Board considers consensus market expectation for the year ending 28
February 2025 prior to this announcement to be revenue of £333.4m and profit
before taxation and highlighted items of £39.6m.

** No further disclosures are required under paragraph UKLR 6.4.8R of
the UK Listing Rules.

For further information, please contact:

 Bloomsbury Publishing Plc
 Tamsin Garrity, Head of Investor Relations      tamsin.garrity@bloomsbury.com
 Hudson Sandler                                  +44 (0) 20 7796 4133
 Dan de Belder / Hattie Dreyfus / Emily Brooker  bloomsbury@hudsonsandler.com

Disclaimer

The information in this announcement has not been audited or otherwise
independently verified and no representation or warranty, express or implied,
is made as to, and no reliance should be placed on, the fairness, accuracy,
completeness or correctness of the information or opinions contained herein.
None of the Company or any of its affiliates, advisors or representatives
shall have any liability whatsoever (in negligence or otherwise) for any loss
whatsoever arising from any use of this announcement, or its contents, or
otherwise arising in connection with this announcement.

This announcement does not constitute or form part of any offer or invitation
to sell, or any solicitation of any offer to purchase any shares in the
Company, nor shall it or any part of it or the fact of its distribution form
the basis of, or be relied on in connection with, any contract or commitment
or investment decisions relating thereto, nor does it constitute a
recommendation regarding the shares of the Company.

Certain statements, statistics and projections in this announcement are or may
be forward looking. By their nature, forward‑looking statements involve a
number of risks, uncertainties or assumptions that may or may not occur and
actual results or events may differ materially from those expressed or implied
by the forward-looking statements. Accordingly, no assurance can be given that
any particular expectation will be met and reliance should not be placed on
any forward-looking statement. Accordingly, forward-looking statements
contained in this announcement regarding past trends or activities should not
be taken as representation that such trends or activities will continue in the
future. You should not place undue reliance on forward-looking statements,
which are based on the knowledge and information available only at the date of
this announcement's preparation.

The Company does not undertake any obligation to update or keep current the
information contained in this announcement, including any forward‑looking
statements, or to correct any inaccuracies which may become apparent and any
opinions expressed in it are subject to change without notice.

References in this announcement to other reports or materials, such as a
website address, have been provided to direct the reader to other sources of
information on Bloomsbury Publishing Plc which may be of interest. Neither the
content of Bloomsbury's website nor any website accessible by hyperlinks from
Bloomsbury's website nor any additional materials contained or accessible
thereon, are incorporated in, or form part of, this announcement.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTDGGDXGGBDGUC