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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Bloomsbury Publishing plc    BMY   GB0033147751

BLOOMSBURY PUBLISHING PLC

(BMY)
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Delayed Quote. Delayed London Stock Exchange - 03/30 11:46:02 am
225 GBp   +7.14%
03/20BLOOMSBURY PUBLISHING : Acquires Zed Books' Assets
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Bloomsbury Publishing : Acquires Zed Books' Assets

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03/20/2020 | 02:29am EDT

20th March 2020

Bloomsbury Publishing Plc ('Bloomsbury') announces today that it has completed the acquisition of certain assets of Zed Books Limited ('Zed' or the 'Acquisition'), the London-based academic and non-fiction publisher. The consideration was £1.75 million, of which £0.875 million was satisfied in cash on completion and the remainder to be paid within 12 months. Zed will operate within Bloomsbury's Academic & Professional division and is expected to contribute approximately £0.8 million of revenue to Bloomsbury in its first year. The Acquisition is expected to break even in its first year, before reorganisation and acquisition costs, then be earnings enhancing thereafter, with improved profit following the integration of the business into Bloomsbury.

The acquired Zed titles are a good strategic fit with Bloomsbury's existing publishing lists, whilst strengthening its offerings in African Studies and Development Studies. With the combined lists of Zed and I.B. Tauris, Bloomsbury is now a leader in academic Area Studies publishing. The Acquisition also enhances Bloomsbury's Politics and International Relations list.

Jonathan Glasspool, Managing Director of Bloomsbury's Academic & Professional Division said:

'We are delighted to become the new guardian of the prestigious and progressive Zed list. The Zed programme aligns very well with our existing publishing within I.B. Tauris, and complements Bloomsbury Academic's publishing across a wide range of humanities and social science subjects. Over 40 years, Zed has built up a unique presence in African and Development Studies, an area we wish to grow. We greatly look forward to working with Zed's wonderful range of authors and partners.'

Kika Sroka-Miller, Co-owner and Director of Zed Books said:

'Bloomsbury's recognition of the value of Zed's Global South focus comes at a pivotal historical moment. Moving the Zed list to Bloomsbury not only secures its long-term future and development, but greatly increases the global reach of the Africa and Development lists in particular, which has always been Zed's primary goal. Furthermore, Zed's ground-breaking Middle East, Gender and Sexualities, Race and Indigenous Politics lists fit well within Bloomsbury's broader publishing programme and crucially, the move ensures Zed's books remain independently published.'

For further information, please contact:

Bloomsbury Publishing Plc +44 (0) 20 7631 5630
Nigel Newton, Chief Executive
Penny Scott-Bayfield, Group Finance Director
Hudson Sandler +44 (0) 20 7796 4133
Dan de Belder / Hattie Dreyfus bloomsbury@hudsonsandler.com

NOTES TO EDITORS

Bloomsbury Publishing Plc

Bloomsbury Publishing Plc is a global independent publisher across trade, specialist, professional, school and higher education markets. Its Academic division has grown rapidly since its inception in 2008, publishing around 1,800 titles per year and specialising in the arts, humanities and social sciences. It leads the field in innovative publishing, with a fast growing portfolio of digital resources, including Bloomsbury Collections, which delivers instant access to quality research with more than 6,000 titles across the humanities and social sciences delivered to universities, scholars and students around the world.

Its I.B. Tauris imprint includes Bloomsbury's market-leading list in Middle East Studies as well as a rapidly growing Politics and International Relations list. It includes books by leading authors such as 2019 Parliamentary Book Award winner Rachel Reeves, constitutional expert Vernon Bogdanor, Far-Right Extremism researcher Julia Ebner and Basic Income campaigner Guy Standing.

To return to the Regulatory Announcements section click here

Disclaimer

Bloomsbury Publishing plc published this content on 20 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 March 2020 07:27:03 UTC

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Financials (GBP)
Sales 2020 168 M
EBIT 2020 15,8 M
Net income 2020 10,5 M
Finance 2020 28,6 M
Yield 2020 3,73%
P/E ratio 2020 16,3x
P/E ratio 2021 14,4x
EV / Sales2020 0,83x
EV / Sales2021 0,77x
Capitalization 168 M
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Mean consensus BUY
Number of Analysts 3
Average target price 290,00  GBp
Last Close Price 225,00  GBp
Spread / Highest target 40,0%
Spread / Average Target 28,9%
Spread / Lowest Target 22,2%
EPS Revisions
Managers
NameTitle
John Nigel Newton Chief Executive Officer & Executive Director
Richard Peter Lambert Non-Executive Chairman
Penelope Samantha Juliette Scott-Bayfield Group Finance Director & Director
Jonathan Rennie Glasspool Executive Director
John Anthony Warren Senior Independent Non-Executive Director
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