Financial Services Industry
Industry: Email Alert RSS FeedBLOOMSBURY PUBLISHING (BMY).
Investors Chronicle, April, 2007
Bloomsbury's results read like a horror story following the book publisher's profit warning last December. Chairman Nigel Newton attributed this to underperformance in the bestseller lists, a delay in securing a reference rights publishing deal, and a weak pre-Christmas books market. However, the board has responded by putting in place a strategic plan to grow revenues, based on developing new authors and publishing new works by current authors. Mr Newton also says Bloomsbury intends to develop the business internationally (particularly in the US and Germany), seek further acquisitions, exploit the cost-reduction potential of print-on-demand and e-books, and host a site utilising user-generated content.
At least this year will see the publication of Harry...
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