In an increasingly digital world, Keep Me Posted recognizes that many of us still prefer to receive bills, medical records and other important, confidential communications in paper format. Many consumers report difficulties in using new payment technologies and many require paper communications. This can include older adults, disabled people, low-income earners (who can’t afford costly broadband internet) and those with no home internet (often located in rural areas) or computers. Even for those who prefer digital communications, storing or accessing sensitive documents online could lead to disaster in the event of data breaches and identity theft which are becoming more common every year. Yet each day, more companies are forcing us to go paperless and even charging us inflated fees for online access to critical personal and financial documents. One study also revealed that new utility customers paid significantly later when they received bill invoices by email. If this happens, you might be charged late fees and harassment from debt collectors – and even your credit rating could suffer. In a recent survey, 90% of people said they’d like to have the right to choose how they receive communications (printed or electronic). It’s time to make our voices heard.
Commenting on the results, Nigel Newton, Chief Executive, said:
“Bloomsbury achieved its highest ever results with sales up 24% to £230.1 million and profits up 40% to £26.7 million. Sales were up 41% and profits up 70% from two years ago. Both the Consumer and Non-Consumer divisions gave outstanding and resilient performances, highlighting Bloomsbury’s unique strength in combining general and academic publishing.
The Consumer division revenue grew by 25%, continuing the momentum of last year, and achieved a 25% increase in profit before tax and highlighted items1 to £17.8 million. The Non-Consumer division saw 23% revenue growth and a 68% increase in profit before tax and highlighted items1 to £9.1 million. Consumer revenue was 53% higher and Non-Consumer revenue 24% higher than two years ago.
Bloomsbury Digital Resources (“BDR”) outperformed the target set six years ago of £15 million of sales and £5 million of profit, with sales of £18.6 million, up 50% on last year, and profit of £6.8 million, up £3.9 million on last year. Following this success, we have set ambitious new growth targets for BDR. Supporting our strong organic growth, we made three acquisitions during the year of ABC-CLIO LLC, the Red Globe Press list and Head of Zeus Limited.
In recognition of our strong performance and in line with our progressive dividend policy, the Board proposes a 24% increase in our final dividend to 9.40 pence per share.
more at: https://www.bloomsbury-ir.co.uk/media/press_releases/2022/150622