Penguin has best-ever year and Bloomsbury predict 2011 to be the year of the e book

Penguin UK had its best ever year in 2010 as parent company Pearson reported a profits increase of 21% to £857m.
For the year ending 31st December, sales at Pearson were £5.66bn, up 10% on 2009. Sales at Penguin were £1.05bn, up 5% on the previous year. Adjusted operating profit was up 26% to £106m. Pearson attributed this to an "outstanding" US performance, driven by a record number of bestsellers, increased market share and expansion in emerging digital platforms and formats.

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Bloomsbury is anticipating 2011 to be the "year of the e-book", as it reported e-book sales were running at just under 10% of trade print sales, as part of its interim results announcement put out this morning (28th February).

For the 12 months ending 31st December 2010, sales were up 4.01% from £87.2m to £90.7m. However, pre-tax profits fell from £7.1m to £5.5m, which the publisher blamed on amortisation of assets, its move to new offices and acquisition costs.

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