Bloomsbury Publishing PLC: Updating post FY26 results

研报英文原文证据摘录

Bloomsbury Publishing PLC: Updating post FY26 results

Deutsche Bank Group

Deutsche Numis Research

Rating Company Date

Buy Bloomsbury 28 May 2026

Forecast Change

Europe Publishing PLC

United Kingdom

Reuters Bloomberg Exchange Ticker Price at 27 May 2026 (GBP) 646.00

BLPU.L BMY LN LSE BLPU

Price Target (GBP) 760.00

Media and Online

646.00 -

Publishing 52-week range (GBP) 438.50

Updating post FY26 results

Valuation & Risks

Steve Liechti

FY26 results to Feb were in broadly in line with the trading update in March and

Research Analyst

our forecasts, with adj FD EPS slightly ahead given better tax. No material change +44-20-7541-1549

to FY27/28E forecasts. Outlook suggests confidence in delivering market

expectations with BMY pointing to a stronger, wider publishing list, with this year Gareth Davies

particularly de-risked, in our view, given two Sarah J Maas (SJM) releases and

+44-20-754-11560

new Harry Potter activity. Buy - BMY has successfully scaled, leveraging high-

value author brand/ franchises, and diversified across Consumer and A&P. This Annabel Hames

implies a relatively defensive medium-term growth profile in volatile/uncertain Research Analyst

times, notwithstanding new release volatility for key titles/authors. TP to 760p +44-20-754-11574

(from 700p).

Key changes

Positive outlook with BMY suggesting strong confidence in delivering recently Target Price 700.00 to ↑ 8.6%

760.00

upgraded guidance. BMY points to a strong, wider publishing list in 2026/27 (incl.

the two SJM books) with pre-orders of major titles seen as "exceptional". BMY also Source: Deutsche Bank

points to some recovery in A&P in FY27 post a better 2H26, though underlying

trends are tough to unpick given lack of disclosure on M&A and digital/AI deals.