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Osprey sales soar

21.05.08 John Ryan

Military history specialist Osprey Publishing's EBITDA profits rocketed by 76.5% to £429,000 in 2007. Sales rose by just 3.7%, from £5.4m to £5.6m, although the decline in the value of the US dollar affected the figure, as around 50% of the company's business is North America-based.

Managing director Rebecca Smart attributed the strong profit growth to buoyant UK trading, a financial restructuring resulting in a reduction on interest charges when loan stock was swapped for equity, and the success of a number of new products.

"We are actually doing staggeringly well in the UK at the moment, through Amazon, through Waterstone's and through our own sales. There are those who'd rather buy an Osprey book than eat," she said. Smart added that the partnership with Waterstones on the use of Osprey-branded spinners had been successful and would be extended to the Shire list in the current year.

Shire Publications was acquired in August as the first step in an acquisition strategy funded by a £631,000 rights issue and £250,000 of additional debt. "With Shire, what we saw was the opportunity to revise an existing list. They were doing six titles a year and this year we'll do 24," said Smart.

Sales in the first quarter of 2008 showed a "double digit" increase, as new products, such as strategy game "Field of Glory", were brought to market.

Financial John Ryan publishing Osprey

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