Citing continuing strong demand for books in February, Bloomsbury Publishing said it expects sales for the fiscal year ended February 28, 2021, to be above current market expectations and profits to be "significantly" ahead of previous forecasts.
The decision to focus its 2020 list on books that could perform well online, in nontraditional outlets, and in digital formats led to a 6% increase in operating profits at Quarto last year, while revenue declined 7%, to $126.9 million.
Revenue at Lagardère's Hachette Livre slipped 0.4% last year, to €2.37 billion, from €2.38 billion in 2019. Earnings, however, rose 11.8%, to €246 million. Sales at Hachette Book Group rose 3.9% over 2019.