The Bookseller reported today (29 March 2019) “Bonnier Books UK hopes to return to profit this year after its operational losses fell by 76%, from £15m to £3.6m, in 2018 … with sales on track to grow again, and it could be self-sustaining by 2020.”
Under the direction of CEO Perminder Mann, Bonnier Books UK is “moving to a traditional model, focusing more on literary fiction and narrative non-fiction” with “ongoing work behind the scenes to align the business into a setup more like its sister companies in the Bonnier Books group.”
Mann said: “The staff have been committed and really focused on delivering fantastic books. That’s what this is all about, ultimately. We’re constantly appearing in the Sunday Times bestseller charts, for instance, across the board. I’m just so pleased for the staff: [that success has] just kept the team motivated and it shows you’re absolutely doing the right thing.”
Jim Zetterlund, chairman of Bonnier Books UK and COO/CFO of Bonnier Books, said: “We want to be here in the UK. It’s one of the most exciting book markets in the world. Where would we be otherwise?
“We definitely want to be one of the top players in the UK, [whether] that takes 10 years or five years,” he added. “But talking about size is not that important right now. It’s much better that we have a quality business, that we’re growing, profitably, over a period of time. That’s the most important thing.”
The full article is available to read on The Bookseller website here: https://www.thebookseller.com/news/bonnier-books-uk-outlines-its-plans-growth-it-heads-towards-profitability-979596.