StockMarketWire.com - Bloomsbury Publishing's total dividend for the year to 28 February is up 5.8% at 5.50p per share following huge e-book growth.

The group says continuing profit before tax rose by 16% to £9.8m on turnover up 1% at £98.5m.

Continuing turnover and profit excludes Bloomsbury's former German subsidiary, Bloomsbury Verlag GmbH, which was sold on 28 February 2012, and which was treated as discontinued in the 2012 financial statements.

The group said e-book sales increased by 61% to £9.1m and there was a strong performance from its portfolio of high quality cookery books, including Paul Hollywood's 'How to Bake and Bread', Russell Norman's 'Polpo', and significant sales from established authors including Hugh Fearnley-Whittingstall, Heston Blumenthal, Raymond Blanc and many more.

Chief executive Nigel Newton said: "This is an excellent performance.

"Bloomsbury's core attributes of entrepreneurship, innovation, publicity flair and tight control of costs have led to the delivery of One Global Bloomsbury, and the future performance we have now set the stage for as we enjoy the synergies and sales advantages of having delivered a unified worldwide publishing group.

"In our strategy for growth we are targeting 50% of profit to be digital within five years, with Bloomsbury being the number one applied visual arts and independent humanities and social science publisher in Europe.

"Over that time we aim to be the number one publisher of choice in cookery, sport and natural history, with an Information division which has a global base delivering increasing revenues from digital knowledge hubs.

"We start the year with a very strong programme led by today's publication of And the Mountains Echoed by bestselling author Khaled Hosseini"




At 8:14am: [LON:BMY] Bloomsbury Publishing share price was +7.25p at 117.5p



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