Investment: Hodder result is a good read
Tuesday 08 September 1998
AFTER ITS profits warning in 1995 Hodder Headline, the book publisher, has been recovering steadily. Its shares have risen by a third in the past year, outperforming the market by 28 per cent. The collapse of the Net Book Agreement is helping sales of mass market titles where Hodder is strong with authors such as Stephen King and Tom Clancy. And the dash to open book superstores by retailers such as Waterstone's and Borders, the US group, is stimulating bookbuying.
Tim Hely Hutchinson, Hodder's chief executive, reckons the UK book market will grow by 5 to 6 per cent this year, a healthy trend in a mature market. Sales in July and August were "reasonably firm", he says, contradicting reports of a slowdown.
Hodder's half-year figures underlined the progress: pre-tax profits shot up by 70 per cent to pounds 2.2m. The rise was fuelled by a strong first half set of new titles, which included hardbacks from TV chef Sophie Grigson and paperbacks such as Josephine Cox's Miss You Forever.
Asia will probably only account for 3 per cent of Hodder's sales this year compared to the usual 6 per cent. The financial turmoil in the region has hit demand in Australia and New Zealand. Hodder is establishing a joint venture there to reduce costs, but the dent to profits could keep second-half figures at the same level as last year.
On full-year profit forecasts of pounds 9m, the shares - up 10p to
- 1 Toddler throws a tantrum at the White House – in front of Barack Obama
- 2 Irish people are travelling home from all over the world so they can vote to legalise gay marriage
- 3 Picture of couple posing with beached dolphin 'that later died' causes outrage
- 4 16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
- 5 Witch doctor arrested after forcing newborn baby to walk in Indian village
Toddler throws a tantrum at the White House – in front of Barack Obama
Maryland mother found pushing her dead child on a swing in a playground
16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
Picture of couple posing with beached dolphin 'that later died' causes outrage
Nicola Sturgeon did want David Cameron to win the general election, report concludes
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
Report finds that Britain's wages are the most unequal in Europe
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...