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Bloomsbury says trading in line with own view

Thu Oct 15, 2009 3:38am EDT

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(Reuters) - Publisher Bloomsbury Publishing (BLPU.L) said on Thursday it was trading in line with its estimates and was investing carefully in its future publishing programme. The company said the global availability of Amazon.com (AMZN.O) Kindle ebook reader, previously available only in the United States, was a welcome development in the run-up to Christmas. Kindle will offer more than 200,000 English language titles from leading publishers including Bloomsbury, it said.

Bloomsbury, which is focussing on less-risky academic and specialist publishing, said it had a strong balance sheet with a cash position of 32.3 million pounds at the end of September.

Bloomsbury shares were up 1.5 percent at 135 pence at 8:29 a.m. British time on the London Stock Exchange.

(Reporting by Kumar Alagappan in Bangalore; Editing by Vinu Pilakkott)


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