Bloomsbury Publishing (LON:BMY) reported higher profit and earnings despite a year-over-year revenue decline, as management pointed to the resilience of its mix of consumer and academic publishing and said it expects to deliver record profit in the current financial year.
Founder and Chief Executive Nigel Newton said Bloomsbury’s “portfolio of portfolios” across consumer and academic publishing has helped insulate the company from reliance on a single revenue stream. He said the model gives the publisher exposure both to consumer book buyers and to “the huge institutional buying power” of academic libraries worldwide.
