Business

Bloomsbury's sales of e-books soar

Someone holding Kindle reader
Image caption Bloomsbury chief executive Nigel Newton says the industry is seeing a revolution

Publisher Bloomsbury says its sales of e-books has soared as the worldwide popularity of electronic readers rises.

Its comments came as it reported pre-tax profits for the 14 months to 28 February of £4.2m.

E-book sales were £1.5m, up from £79,000 last year, with chief executive Nigel Newton saying they were changing the face of the publishing industry.

"Demand for digital delivery, including e-books, is increasing significantly," Mr Newton said.

"It will change the publishing business model, creating one worldwide market," he added. "The publishing world is handling its own revolution."

Bloomsbury reported profits for a 14-month period as it is changing its financial year. In the 12 months to 31 December 2009 months profits were £7.1m.

Total group sales were £103.4m for the 14 months to February, compared with £87.2m during 2009.

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