StockMarketWire.com - Bloomsbury Publishing reported a modest rise in profits, as improved performance in its non-consumer division was dented by weaker performance in its consumer division.

For the 12 months ended 31 March, profit before tax rose 3% to £12.0m and revenue rose 0.7% to £162.7m.

The non-consumer division, which included academic & professional, special interest and content services segments - saw revenue rise 7%.

'Our Academic and Professional division delivered an outstanding performance with 13% revenue growth and profit before tax and highlighted items up £3.5m, the company said.

But the consumer division, consisting adult and children's trade publishing segments, saw revenues decrease 2.8%.

In its adult division, profit before tax and highlighted items grew by £1.1m, in a year in which included many novels, works of narrative non-fiction and cookery titles.

The company proposed a final dividend of 6.75p per share, up 6% year-on-year, taking the total dividend to 7.96p, up from 7.51p last year.

The results comes as the company's Bigger Bloomsbury strategy begins to shape, as the company delivered all seven initiatives, including improving its working capital by reducing inventories by £2m and growing academic and professional digital resource revenue by 42%.

'These initiatives focus on our key growth drivers with targeted strategies across the Group to help grow our revenues and increase our margins over the next four years,' the company said



At 9:55am: [LON:BMY] Bloomsbury Publishing PLC share price was +1.5p at 235.5p



Story provided by StockMarketWire.com