Boosey tunes up for growth
Wednesday 17 April 1996
The price was spurred last year when the European Union harmonised copyright periods to 70 years. That decision, ratified by Parliament in December, extended copyrights in the UK and some other European countries by 20 years and gave a new lease of life to copyrights controlled by Boosey. Long-dead composers such as Rachmaninoff, Delius and Elgar will come back under the company's wing.
Boosey can take more than pounds 1,000 a night from a well attended opera at Covent Garden at which one of its pieces is used, quite apart from recording rights and sheet music sales. The group managed to squeeze juicy margins of 21 per cent out of the publishing business last year. This year should benefit from further margin expansion, although earnings will be held back by reorganisation at Bote & Bock, the German music publisher acquired earlier this year.
Most of the growth last year came from Boosey's instruments business, which saw underlying profits jump 14 per cent to pounds 4.18m. Concentration on margins and additional funds from the Lottery directed at brass bands in the UK boosted the business, but in the long term the excitement is likely to come from the rapidly growing Far Eastern market and expanding market share in the US. Victory in Boosey's long-running $200m claim against Walt Disney would transform the group, but the case remains bogged down in the US legal system for now. Profits of more than pounds 7m this year would put the shares on a heady forward multiple of over 30 and with US publisher Carl Fischer in effect sitting on over 50 per cent, they are hard to get hold of. A firm hold none the less.
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 3 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 4 Britney Spears sings 'Alien' without Auto-Tune in embarrassingly brilliant leaked audio clip
- 5 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Mick Jagger denies being World Cup curse and reason for Brazil’s embarrassing defeat
Israel-Gaza crisis: ‘We just want it to end… We don’t deserve to live like this’
Israel-Gaza crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£38000 - £42000 per annum + competitive: Real Staffing: Required skills:Previo...
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...