Shares of Bloomsbury Publishing Plc (BMY.L) were gaining more than 11 percent on London Stock Exchange after the independent publisher Wednesday said it expects fiscal 2024 revenue and adjusted profit before taxation to be significantly ahead of upgraded market expectations.
The Board considers that the consensus market expectation for the year is currently revenue of 291.4 million pounds and adjusted profit before taxation of 37.2 million pounds.
Further, the company appointed Sabrina McCarthy as President of Bloomsbury US, starting at the beginning of April. She will also serve on Bloomsbury's global Executive Committee. She is joining from Ingram Publisher Services where she is Vice President and General Manager.
In its trading update, Bloomsbury said its Consumer division has delivered exceptional growth, partly driven by the publication of Sarah J. Maas novel House of Flame and Shadow.
Nigel Newton, Chief Executive, said, "I am overjoyed to report an exceptionally strong period of trading, principally driven by the increasing demand for fantasy fiction. Sarah J. Maas is a publishing phenomenon and we are very fortunate to have signed her up with her first book 13 years ago."
The Company will scheduled to release full-year preliminary results on May 23.
In London, Bloomsbury shares were trading at 550 pence, up 11.9 percent.
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