UK retailer WH Smith released its interim report for the six months ended February 28, 2019, including plans for updates to its High Street store inventory. Total group revenue of £695 million was up 8 percent, with High Street sales — where most of their book sales occur — at £331 million, down £4 million…
Earnings Reports
How the New Revenue Rules Affected Penguin Random House’s Sales and More Details
Pearson filed their annual 20-F report with the SEC last week, which includes an extensive set of financial statements for the Penguin Random House venture. Those financials are actually more detailed in some ways than what Bertelsmann releases, and give us additional insight into some important aspects of the company’s performance. Most significantly, Pearson details…
Lagardere Publishing Still Looking to Acquire
Lagardere published their full annual report, which provides broader guidance for 2019 — including a strong reiteration that the publishing division is still looking to build their English-language publishing operations through an acquisition of scale: “As part of the strategy defined for the Group by Arnaud Lagardère, Lagardère Publishing plans to position itself for the…
Bonnier UK Discloses Big Losses and Recapitalization, Predicts A Profitable 2019
Struggling Bonnier Books UK announced improved sales in 2018, at £71.5 million (up 15 percent compared to 2017), and a reduced operating loss of £3.6 million. Operating EBITA was up £11m compared to 2017. “After a very weak 2017, Bonnier Books UK has made sizable progress towards its goal of sustainable profitability and looks set…
McGraw-Hill Reports 2018 Declines
McGraw-Hill reported its 2018 Q4 and full-year earnings and annual report today, with overall 2018 revenue of $1.6 billion. This is the fifth straight year of sales decline for the company, down from $1.83 billion in 2014. For the quarter, performance was “generally in-line with expectations,” with total billings down to $302 million from $340…
Obama Helps PRH Results As Dohle Looks to Future Growth
Bertelsmann reported full year 2018 results on Tuesday morning in Germany, with sales at Penguin Random House of €3.424 billion. Last year’s sales were €3.359, but because of the change in revenue recognition — specifically for some ebook sales — direct comparisons of sales numbers to previous years are no longer possible and will carry asterisks….