Bloomsbury revenue ahead of expectations as UK enters new chapter of leisure reading

A UK publishing company has announced that it expects its revenue to pull ahead of market expectations.

Bloomsbury Publishing, based in London, said that its revenue for the year ending 28 February 2021 is set to be higher than the predicted figure of £161.8m.

This follows ongoing “strong” trading in both adult and children’s publishing as more people turn to books during lockdown.

Nielsen has estimated that the surge in reading has led to the volume of print books sold in the UK during 2020 growing by 5.2 per cent compared with 2019.

In today’s statement, Bloomsbury commented: “This follows continued strong trading in the consumer division, for both adult and children’s publishing.

“Academic and professional also continues to make good progress in line with our strategic objectives.

“Our strategy of developing digital resources means we are well placed to benefit from demand from academic institutions during lockdown.

“This excellent performance during the global pandemic is testament to the resilience, initiative and determination of our staff, authors, illustrators, customers, distributors and suppliers, together with the strength of our publishing strategy, supported by our strong financial position.

“We will provide an update with our preliminary results in June 2021.”

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