Library services pressure sparks concern for Bertrams owner
18:20 08 July 2014
The parent company of Bertrams Group has forecasted a performance dip for its books division as library services and academic markets face increased pressure.
Connect Group saw its books revenues increase 2.6pc to July 5 thanks to recent acquisitions and the continued strong performance of its online book selling business Wordery.
But like-for-like revenues decreased 3.2pc amid concerns that difficult market conditions are hampering growth despite efforts to reduce cost.
Elsewhere, the Connect News & Media increased revenues 0.1pc, driven by strong World Cup sticker sales, while Connect & Education Care revenues increased 2.2pc with core like-for-like revenues up 4.4pc thanks to a strong performance from its education and early years channels.
In January, Thorpe-based Bertrams Group announced that it had created 100 jobs in 2013 thanks to the substantial expansion of its academic books business.
It was partly fuelled by the acquisition of Dutch library supplier Erasmus and the purchase of a number of academic library contracts from Blackwell. The company firm had previously forecasted turnover to hit £210m this year.
Bertrams Group – an EDP Top100 company – were unavailable for comment at the time of the publication.
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