Business
Interim Management Statement
Interim Management Statement.
About this update from Bloomsbury Publishing Plc
[{"type":"text","content":"\n \nRNS Number : 9076L Bloomsbury Publishing PLC 10 July 2014 \n \n\nBloomsbury Publishing Plc\nInterim Management Statement\nBloomsbury Publishing is issuing its Interim Management Statement in respect of the period 1 March 2014 to date.\nIn the three months ended 31 May 2014, revenues are up year on year in our Academic & Professional and Children's & Educational divisions but down in our Adult division, as anticipated, following the exceptional success of certain books in that division last year. Total revenues were down by 9% on last year (when they were up by 19% year on year), but are up by 7% when compared to the three months ended 31 May 2012. Digital sales were 12% of total revenue compared to 11% in the same period last year. Rights and services revenues were up by 2% in the period. This quarter traditionally generates the smallest profit in our financial year.\nIn May, the Academic & Professional division was voted Academic, Educational and Professional Publisher of the Year at the industry trade awards for the second year running. The judges said that the division stands apart for 'the scale and range of its ambition' and 'it leads from the front in re-imagining the way content can be used and sold'. Bloomsbury Collections, which delivers online collections of scholarly e-books for the library market, will be fully launched in September. This service enables scholars and students to use the full range of Bloomsbury's academic publishing portfolio. The site has soft launched with 1,300 books in 12 subject areas, bringing together innovative current research publications alongside more than a century of authoritative scholarship from the backlists of imprints such as T&T Clark, Bristol Classical Press, Continuum, Berg and the Arden Shakespeare. We expect 3,000 titles to be on the platform by February 2015. \nIn the Adult division our best-selling titles were Khaled Hosseini's And the Mountains Echoed, Wisden Cricketers' Almanack 2014, A Spy Among Friends by Ben Macintyre and in the US, Roz Chast's Can't We Talk About Something More Pleasant? which has been at number one on the New York Times graphic novel best-seller list for six weeks. \nIn the Children's & Educational division, best-selling titles include the Harry Potter Box Set by J.K. Rowling and Paper Towns by J...