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Posts Tagged ‘Philip Jones’

First Half Sales Slow for Random House

The Bookseller’s Philip Jones reports that Random House registered a slight year-on-year decline in its first-half revenues and earnings, according to parent Bertelsmann. The group blamed the decline on the “cost of investing in future growth”, and came despite a strong performance in the UK bestseller charts.Sales reached 832m euros in the six months to end-June 2007, down from 859m euros a year earlier. Operating earnings before interest (EBIT) were 44m euros, against 48m euros in 2006.

Bertelsmann said: “In a global book market with a slow-growth trajectory. The decline is due to the cost of investing in future growth, especially for new publishing businesses in the UK, as well as the unfavorable US exchange rates.” It added: “Random House outperformed the market in Germany and the UK. Random House UK Group titles accounted for 30% of the Sunday Times bestseller lists. In the US, Random House placed more than 100 titles on the New York Times bestseller lists.”

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Egmont Prepares Expansion Into Denmark

The Bookseller’s Philip Jones reports on Nordic media group Egmont‘s move to consolidate its position in Denmark with the acquisition of Bonnier Forlagene through its Danish subsidiary Aschehoug. The move brings together Denmark’s second and third largest publishing businesses: the new group will be renamed Lindhardt & Ringhof. The two media groups have also announced the merger of their Norwegian publishing businesses Damm and Cappelen to form a new publishing group, Cappelen Damm. The new publisher will be owned equally by Bonnier Books and Egmont.

“We are making publishing history today, this being the most momentous change the Danish book business has seen in years,” said Egmont managing director Annette Wad, will head up the new company Lindhardt & Ringhof. “We want to be Denmark’s most dynamic publishing house when it comes to new ideas for specific titles as well as to marketing initiatives. We plan to boost our collaboration with authors and develop ideas with them. The new publishing house embraces a galaxy of many small editorial units with different specialties. This means we can be big while also retaining the intimacy of the small department and the specialist expertise it offers authors.”