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Bloomsbury Publishing - Seems likely to hit full year forecasts out of the park

November 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The pandemic seems to have caused a reading boom as everyone turns to books for comfort and Bloomsbury’s H1 has walloped the ball out of the park. Typically its quieter half, the latest H1 set new all time records with revenues up 29% to £100.7m, pretax profit up 225% to £12.9m and eps up similarly to 12.8p. Growth in organic pretax profit was £8.1m, with two recent acquisitions, RGP and HoZ, contributing £0.8m.Mindful of possible supply chain issues, Bloomsbury has ordered its stock early, well in advance of the usual peaks in the run up to Christmas so I expect it to massively exceed the £19.3m forecast for the full year. As Investec also concedes, “our inclination is to increase fo ...

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