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Summary
- BMY had shown revenue growth of around 14% to £185.1 million during FY21.
- The Company will pay a final dividend of 7.58 pence per share and a special dividend of 9.78 per share on 27 August 2021.
- BMY had net cash of £54.5 million as of 28 February 2021.
Bloomsbury Publishing PLC (LON:BMY) is the consumer stock listed on the London stock exchange. BMY’s shares have generated a return of 60.19% in the last 12 months. It is listed on the FTSE All-Share index.
Company Overview
Bloomsbury Publishing PLC is the UK based leading independent publisher engaged in the publishing of books and other related services. Moreover, the operations are bifurcated into four business divisions - Adult, Children's & Educational, Academic & Professional, and Information.
FY21 Financial Highlights (for the 52 weeks ended 28 February 2021 as of 02 June 2021)
Robust Top-Line and Bottom-line growth – The revenue had increased by 14% to £185.1 million during FY21, driven by strong demand for titles in e-books, audio, and print format. Furthermore, on the profitability front, the profit before taxation had shown an outstanding jump of around 31% to £17.3 million during FY21. The cash conversion ratio came out to be 142% for FY21.
Recent lucrative acquisition deals – BMY had completed the acquisition of Zeus Limited on 02 June 2021 for the total consideration of £8.45 million. Furthermore, this acquisition is aligned with the long-term Consumer growth strategy. Moreover, BMY had also completed the acquisition of certain assets of Red Globe Press worth around £3.7 million on 01 June 2021.
Progressive dividend policy – The Company had maintained a progressive dividend policy supported by the strong cash generation during the period. BMY will pay a final dividend of 7.58 pence per share along with the special dividend of 9.78 pence per share on 27 August 2021. Moreover, the dividend grew at a CAGR of 6.5% over the period of the last ten years.
Divisional Update – The consumer division had posted healthy revenue growth of around 22% to £118.3 million with an outstanding performance from both the Adult and Children's divisions. Moreover, the sales across the adult division rose by 17%, and Children’s sales grew by about 26% during FY21. The Non-consumer division had registered a lower growth of around 1% to £66.8 million during FY21.
One Year Chart
(Data Source: EODHD/Others)
BMY shares were trading at GBX 349.33 and were up by close to 13.05% as of 02 June 2021 at 02:46 PM GMT. The 14-day RSI stood at ~67.37, while the 20-day simple moving average was around GBX 309.27. BMY’s 52-week Low and High were GBX 179.79 and GBX 354.00, respectively. The market capitalization of BMY is approximately £259.94 million.
Business Outlook
The Company had uplifted the financial guidance as it now anticipated revenue of more than £177.5 million and profit before taxation and highlighted items over £17.4 million for FY22 ending on 28 February 2022, driven by the ongoing encouraging momentum and strength of the business. However, the board remained cautious of the external challenges. Nevertheless, BMY remained upbeat regarding the long-term strategy because of the outstanding financial performance shown during FY21.
