Bloomsbury Publishing (BMY) H2 2025 earnings summary

Executive summary

• Revenue reached £361 million, up 5% year-over-year, with profit at £42.1 million and a 12% margin.

• Diversification across consumer and academic publishing underpins resilience, with international expansion and digital growth.

• Integration of Rowman & Littlefield, acquired for £65 million, is progressing well and contributed £19.8 million in revenue post-acquisition.

• Expansion in Asia with a new Singapore office to capture student growth; 78% of revenue now from outside the UK.

• Awarded Publisher of the Year at the British Book Awards and achieved Great Place to Work certification.

Financial highlights

• Revenue increased 5% to £361 million, with 7% growth at constant exchange rates.

• Adjusted pre-tax profit was £42.1 million; margin declined to 11.7% from 14.2%.

• Diluted EPS was 41.45p, down 11%; total dividend per share up 5% to 15.43p.

• Net cash position of £17 million after Rowman & Littlefield acquisition and loan repayment.

• Digital sales now 27% of group revenue, with audio up 57% to £10.9 million.

Outlook and guidance

• Trading expected to be broadly in line with consensus expectations in constant currency for 2025/26.

• Continued focus on international growth, especially in Asia, and further digitization of academic content.

• Ambitious BDR revenue target of £41 million by 2027-2028, leveraging new content and subject verticals.