Bloomsbury Publishing reported record results for the six-month period ended August 31, 2021. Total sales rose 29%, to £100.7 million, over the comparable period in 2020, and profits increased 225%, to £12.9 million. The company attributed the gain to increases in both its consumer and non-consumer groups, as well as to higher sales of digital materials. In addition to strong organic growth, two acquisitions, including the June purchase of Head of Zeus, added £4.4 million to revenue.
In issuing its results for the first half of fiscal 2022, the company noted the impact of supply chain challenges. The publisher said it has so far successfully mitigated any serious ramifications from supply chain problems by taking such actions as printing earlier than usual. It did say accounts have placed big orders earlier than usual this year, something that helped to lift sales in the second quarter. Bloomsbury also warned that it is possible returns could be heavier than usual if the books don’t sell through.
Based in the U.K., Bloomsbury generates about 30% of its revenue in the U.S. The company did not break out U.S. results for the first half of fiscal 2022, but noted that The Priory of the Orange Tree by Samantha Shannon and A Court of Silver Flames by Sarah J. Maas sold well in the U.S. Last week, the company promoted Adrienne Vaughan to president of Bloomsbury USA.
Looking at the rest of fiscal 2022, which ends February 28, 2022, Bloomsbury said it expects to meet market forecast of revenue of £193.4 million. Last year, the company had sales of £185.1 million.
