News

« Headlines

Bloomsbury considering acquisition targets

28.06.07 Philip Jones

Bloomsbury is "actively considering" a number of possible acquisitions, the company said today as part of a statement put out in advance of its annual general meeting. It also revealed that export sales of the latest and last Harry Potter book are 17% ahead of total export sales for the previous book.

Chairman Nigel Newton said: "We have been working hard this year in pursuing potential acquisitions and the company is actively considering a number of opportunities."

Newton highlighted the group's six point development strategy, which it said was "progressing well". He said: "In the medium and long term, Bloomsbury is guided by a clear development strategy which will support its development. We are confident that the building blocks for Bloomsbury's future are in place - a future where our core expertise will continue to play a fundamental role, namely publishing, in whatever form, books of the highest possible quality, with content which excites and pleases readers."

However, the company said that it would not be giving out advice on its future performance, as the markets were too unpredictable. "The above news is good," said Newton, "but the board will not be giving 2007 guidance in view of the fact that, as the past indicates, it is 'not done until it is done', and many market factors in the second half are by definition unpredictable. A number of Bloomsbury, A&C Black, Bloomsbury USA and Berlin titles are selling well in what continues to be a difficult market." Last year the company was forced to issue a profits warning after failing to conclude a number of rights deals before its year end.

Philip Jones harry potter Bloomsbury Nigel Newton

See Also