Bloomsbury Publishing PLC Trading Update (7489F)

TIDMBMY

RNS Number : 7489F

Bloomsbury Publishing PLC

17 July 2019

17th July 2019

BLOOMSBURY PUBLISHING Plc

("Bloomsbury")

Trading Update

Bloomsbury today announces its trading update for the four months ended 30 June 2019. The Board expects the Group's performance for the year ending 28 February 2020 to be in line with management expectations.

As a second-half weighted Group, the first quarter traditionally generates the smallest revenue of the full financial year. Total revenues in the period were down 3% year on year. Non-Consumer revenue grew in the period, with continued strong performance in the Academic and Professional Division. This was offset slightly by the Consumer division, against last year's strong comparator, which included unexpectedly high sales of Kitchen Confidential. Top selling Consumer titles in the period included the Harry Potter series by J.K. Rowling and City of Girls by Elizabeth Gilbert, which reached the Sunday Times and New York Times bestseller lists.

Yesterday, it was announced that Three Women by Lisa Taddeo will be Number 1 on this week's Sunday Times Non-Fiction bestseller list.

Today Bloomsbury is also announcing that the publication of Tom Kerridge's new title, Lose Weight and Get Fit, in December 2019, will be accompanied by a six-part primetime BBC Two television series of the same name. Tom Kerridge's Fresh Start and Lose Weight for Good, which were also accompanied by TV series, have been significant titles for Bloomsbury over the last two years.

In June, Bloomsbury Digital Resources announced a high-level partnership with the National Theatre. This partnership further endorses and enhances the profile of our award-winning Drama Online platform, providing a significant expansion of its video offering with major new content from the National Theatre.

The results for the six months ending 31 August 2019 will be announced on 29 October 2019.

For further information, please contact:

 
 Bloomsbury Publishing Plc                                  [phone] 
 Nigel Newton, Chief Executive 
  Penny Scott-Bayfield, Group Finance Director 
 FTI Consulting                                             [phone] 
 Charles Palmer / Dwight Burden / Leah Dudley     [e-mail] 
 

Notes to Editors

About Bloomsbury: Bloomsbury is a leading independent publisher of fiction, non-fiction, children's, specialist, academic and professional titles, listed on the London Stock Exchange. We are one of the few publishers with a portfolio that includes both general and academic publishing. Bloomsbury's ambitious growth story has seen the Group become a significant global publisher with offices in the UK, US, Australia and India.

Certain 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 [e-mail] or visit www.rns.com.

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July 17, 2019 02:00 ET (06:00 GMT)