Bloomsbury: Audited Preliminary Results for the year ended 28 February 2018

Financial Highlights
•Total revenues grew by 13% to £161.5 million (2016/17: £142.6 million). Revenues from overseas customers grew by 16% to £101.2 million, and are now 63% of total revenues
•Profit before taxation and highlighted items* grew by 10% to £13.2 million (2016/17: £12.0 million), above market expectations
•Proposed final dividend of 6.36p per share, making a total dividend of 7.51p per share for the year, up 12% (2016/17: 6.7p per share)
•Diluted earnings per share, excluding highlighted items*, grew by 10% to 13.92p (2016/17: 12.63p)
•Strong cash conversion of 161% (2017: 180%), with net cash of £25.4m at 28 February 2018 (2017: £15.5m)
•Strong autumn book list and acquisition of I. B. Tauris & Co. Ltd (“IBT”) will mean performance for 2018/19 will be well ahead of our previous expectations

Operational Highlights
Consumer division
•The Consumer division had an exceptional year, due primarily to a strong Children’s and Cookery performance. Revenue increased 20% to £102.2m (2016/17: £85.4m) and operating profit before highlighted items increased by 21% to £11.4m (2016/17: £9.4m**)
•Strong list for the year ahead includes A Court of Frost and Starlight by Sarah J. Maas, a major new cookery title from Tom Kerridge, the illustrated version of The Tales of Beedle the Bard by J.K. Rowling and the film tie-in edition of The Guernsey Literary and Potato Peel Pie Society
•Children’s ◦Revenue for the year increased by 24% to £69.2m (2016/17: £55.9m)
*Sales of the Harry Potter series in the year grew by 31%, including Harry Potter and the Prisoner of Azkaban Illustrated Edition
*Strong sales of Sarah J. Maas titles included A Court of Wings and Ruin

•Adult ◦Revenue increased by 12% year on year to £33.1m (2016/17: £29.5m)
*Highlights included Tom Kerridge’s Lose Weight for Good

Non-Consumer division
•The Non-Consumer division saw revenues grow by 4% to £59.3m (2016/17: £57.2m). Operating profit before highlighted items was £1.7m (2016/17: £2.6m**) including £1.2m net more investment in Bloomsbury 2020, a foreign exchange charge that was £0.7 million higher year on year and a strong rights performance in the prior year
•The Bloomsbury 2020 strategy to leverage our academic and professional assets into the academic library market, is delivering well with digital resource revenues up 20% to £4.7 million. Five major new digital resources were launched in the year, ahead of plan. On track to deliver targeted £5 million of profit and £15 million revenue in 2021/22
•Acquisition of IB Tauris in April 2018 for £5.8 million. Its quality academic IP will enhance our digital resources
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