Business
Trading Update and Board Appointment
Trading Update and Board Appointment.
About this update from Bloomsbury Publishing Plc
[{"type":"text","content":"\n\nBLOOMSBURY PUBLISHING PLC \n(\"Bloomsbury\" or \"the Company\")\n \nTrading Update and Board Appointment\nStrong year end for Bloomsbury - Trading ahead of consensus expectations\nBloomsbury Publishing Plc (LSE: BMY), the leading independent publisher, today announces its trading update for the full year ended 28 February 2025.\nBloomsbury'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.\nThis 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.\nThe 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.\nBoard Appointment\nBloomsbury 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. **\n* 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.\n** No further disclosures are required under paragraph UKLR 6.4.8R of the UK Listing Rules. \nFor further information, please contact:\n\n\n\n\nBloomsbury Publishing Plc\n\n\n \n\n\n\n\nTamsin Garrity, Head of Investor Relations\n\n\[email protected]...