Bloomsbury released preliminary results for their full year ended February 29, with sales up 30 percent to £342.7 million. Profit before taxation and highlighted items was £48.7 million, a 57 percent increase. Both sales and earnings set a record for the company. In a release, CEO Nigel Newton said, “This dramatic increase arises from our entrepreneurial diversification strategy which has forged a portfolio of portfolios combining consumer and academic publishing across formats, territories and subject areas, a resilient model delivering long-term success.” But that’s really not the story the results show. The company’s growth comes from consumer sales—driven by Sarah […]
