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Bloomsbury - Record acquisition; Singer’s target 780p

July 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BMY
  • Price:
  • 612p
Bloomsbury has announced its biggest acquisition to date of US-based Rowman and Littlefield’s academic publishing business, boasting a portfolio of 40,000 academic titles. The consideration was US$83m (£65m) financed by cash and assumption of a new US$38m three-year term loan. Rowman & Littlefield  made revenue of US$36m (£28m) and pretax profit of US$6m (£5m) in the year to December ‘23 and is expected to be “significantly eps enhancing in its first full year in 2025/26 even before expected cost synergies.” Clearly it’s more valuable in Bloomsbury’s hands with the new content uploaded onto its BDR platform so it can be sold many times over. In the light of the deal Bloomsbury has upgraded BDR’s medium term revenue target for 2027/28 ...

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