EGMONT SALES APPROACH £45M
Thursday 5 June 2008
Egmont UK's sales rose 7.5% to £44.6m in 2007, with before tax profits "ahead of expectations", despite falling 5.5% to £2.8m.
Gross profit was up to £25.3m from £23.5m, in what Egmont described as a "sustainable profitable performance within a tough trading environment". It launched a new series fiction list, 2Heads, in 2007, published Andy Stanton's prize-winning Mr Gum books, and acquired new characters Shaun the Sheep and Jess the Cat.
Looking ahead, Egmont acknowledged that competition in the UK book market was "fierce". Although it believed the magazine market would decline in terms of volume, it said that children's books were "less threatened by competing digital media, they have a more secure position and still offer a unique solution for telling stories". It believed that the children's book market would continue to grow in the coming years, "albeit at a reduced rate". "Our challenge is to secure a growing share of this market, both in the UK and overseas," Egmont said.
Last year also saw the establishment of Egmont USA, headed up by Douglas Pocock. Its first list will launch in autumn 2009, with 10-15 titles. These will include the recently acquired new young adult novel by Walter Dean Myers - a "tent-pole author" for the list, said Pocock - and Mirrorscape by Mike Wilks.
"It takes time to build a list," said Pocock. "I'm not expecting our launch list to be full of top 10 sellers, but it will be full of good things. Agents love the fact there is a new publisher on the scene - we have the intimate feel of an independent."
Pocock has recruited Elizabeth Law as vice-president and publisher, and Regina Griffin as executive editor, with plans for a staff of eight by the end of 2008. Distribution is handled by Random House.
CONTACT INFORMATION
Egmont Contact Doug Pocock Regina Griffin |
UK Contact Liz Sich and Hannah Blake at Colman Getty |
See Also... |
