Bloomsbury Publishing confirms it's trading in line

Bloomsbury Publishing said in an update on Tuesday that its recent trading had met expectations, maintaining the positive momentum it achieved last year, with year-on-year sales growth of 9%.

The London-listed firm, which was holding its annual general meeting, said the strong performance in the first four months of its financial year could be attributed to a combination of factors, including the success of several consumer bestsellers.

In terms of the non-consumer division, Bloomsbury said it was seeing continued growth in its Bloomsbury Digital Resources (BDR) segment.

It put that growth down to the ongoing trend of shifting towards digital learning platforms, as educational institutions increasingly embraced digital resources for teaching and research purposes.

“The board remains confident in Bloomsbury's ability to continue to deliver long-term success, with significant financial resources available to invest in organic growth and further company acquisitions,” Bloomsbury said in its statement.

“Global diversification across channels and markets continues to serve us well and further underpins our positive outlook.”

Bloomsbury said it would announce its results for the six months ending 31 August on 26 October.

Reporting by Josh White for Sharecast.com.