Bloomsbury Publishing lifts market guidance after a strong performance by its Consumer division

Bloomsbury Publishing PLC (LON:BMY), the independent publisher, has raised revenue and profit expectations for the year to the end of February.

The company said revenue for the current fiscal year is expected to be ahead of market expectations while profit is tipped to be “well ahead” of the current consensus forecasts.

The board considers that the consensus market expectation for the year ending 28 February 2021 is currently revenue of £161.8 million and profit before taxation and highlighted items of £12.1 million.

The publisher said the better-than-expected performance has been driven by continued strong trading in the Consumer division, for both Adult and Children’s publishing.

The Academic and Professional divisions also continue to make good progress in line with the group’s strategic objectives.

“Our strategy of developing digital resources means we are well placed to benefit from demand from academic institutions during lockdown,” Bloomsbury said.