PUBLISHER Bloomsbury revealed a further acceleration in demand for e-books – as more consumers downloaded titles to read on Kindles and other handheld devices.
Sales of e-books totalled £1.5m in 2010 against £79,000 the previous year – driven by strong growth in the US and a surge in demand from the UK, which started in the final quarter.
The acceleration continued in 2011, when Bloomsbury sold £1.1m of e-books in the first three months of the year.
Bloomsbury, which is changing its tax year, said revenues rose to £103.4m in the 14 months to February 28 against £87.2m in the 12 months to December, 2009. Pre-tax profits dropped to £4.2m from £7.1m.