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Bloomsbury Achieves Highest Revenue and Profit in Company History

by | May 29, 2024 | News

Bloomsbury has achieved its highest revenue and profit in its 37-year history, according to the Bookseller. UK sales, notably of titles by Bloomsbury author Sarah J. Maas, surged by 161%.

 

The company reported a revenue of £343 million for the year ending 29 February, a 30% increase from £264 million in 2022/23. Consumer revenue rose by 49%, and profits increased by 57%, reaching £49 million, up from £31 million the previous year.

 

Chief Executive Nigel Newton attributed this ‘dramatic increase’ to Bloomsbury’s entrepreneurial diversification strategy. This strategy has created a robust portfolio spanning consumer and academic publishing across various formats, regions, and subjects, ensuring long-term success.

 

Newton highlighted Maas’s books as key contributors, capturing a vast audience through major promotional campaigns and strong social media-driven word-of-mouth. He also acknowledged the success of titles by Katherine Rundell and Samantha Shannon, along with sustained strong sales of Harry Potter titles.

 

Bloomsbury Digital Resources saw sales rise to £27 million and is on track to reach a £37 million turnover by 2027/28. Despite a 4% decline in non-consumer sales to £93.4 million, Newton expressed confidence in the division’s long-term growth, particularly with the ongoing shift to digital learning in higher education.

 

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