Bloomsbury Publishing (BMY) H1 2026 earnings summary

Executive summary

• Revenue for H1 2025/26 was £159.5m–£160m, with pre-tax profit of £24.0m and a 15% margin, reflecting strong operational performance and diversification across academic and consumer publishing.

• Interim dividend increased by 5% to 4.08p per share, continuing a long-term growth track record.

• Board expects full-year profit to exceed expectations, underpinned by resilient business model and strong balance sheet.

• Integration of Rowman & Littlefield, the largest acquisition, is substantially complete, enhancing digital and academic content offerings.

• Strategic expansion in Asia with a new Singapore office to capitalize on projected student growth in the region.

Financial highlights

• Revenue declined to £159.5m (H1 2024/25: £179.8m); pre-tax profit fell to £24.0m, with a 15% margin.

• Diluted EPS was 22.98p, benefiting from a lower effective tax rate.

• Net cash position at £2.4m after early loan repayments related to the Rowman & Littlefield acquisition.

• Gross profit margin improved to 59%–59.3% year-over-year.

• Interim dividend per share of 4.08p, a 5% increase.

Outlook and guidance

• Board anticipates delivering full-year profit ahead of expectations, supported by strong trading and operational momentum.

• Continued focus on leveraging digital and international growth, especially in Asia.

• Academic margin guidance remains in the mid-teens, despite recent upside.

• AI licensing agreement expected to unlock new monetisation opportunities.

• Intention to increase full year dividend in line with market expectations.