Final Results - Pre-tax Profit Up 66.4%

Bloomsbury Publishing PLC
27 April 2000


               Bloomsbury Publishing Plc
    Preliminary results for the year ended 31 December 1999

Bloomsbury Publishing Plc is pleased to announce preliminary
results for the year ended 31 December 1999.

Highlights:

-    Pre-tax profits increased by 66.4% to £2.616m (1998: £1.572m)

-    Turnover increased by 36.9% to £20.863m (1998: £15.231m)

-    Gross margins improved to 51.7% (1998, 50.1%)

-    Bloomsbury voted Publisher of the Year at The British Book
     Awards

-    Worldwide success of launch of Encarta World English
     Dictionary database in print and electronic form

-    Bloomsbury USA achieves bestseller in first year

-    Harry Potter series dominates the book world

Nigel Newton commenting on the company's two operating
divisions:

Reference and Electronic Media Division

'The  English  language  is probably  now  the  most  important
communications tool in the world, representing as significant a
commercial   opportunity  as  the  internet   itself   or   new
developments in telephony. Bloomsbury's strategic goal for  the
Reference  and Electronic Media Division is to be  one  of  the
world's  leading providers of reference content for  print  and
electronic  publication for this global market. The demand  for
content  on the internet is insatiable, and with the advent  of
new  channels for the dissemination of information, such as WAP
technology, the demand for content generated from our databases
is set to continue.'


Book Division

'The future trading prospects for Bloomsbury are excellent. The
increased  profile of the company on the back of its  successes
in  the  Book  Division  is attracting more  talented  new  and
established authors than ever before. New initiatives to expand
the  base  from  which we exploit intellectual property  rights
have been put in place.'

'In summary, our divisions are firing on all cylinders with the
successes of the past encouraging us to drive forward with even
greater enthusiasm. We have much to look forward to and  remain
confident that Bloomsbury will continue to build on its current
value in the months and years ahead.'

                     CHAIRMAN'S STATEMENT

Overview
1999  was a vintage year for Bloomsbury Publishing with pre-tax
profits up 66.4% to £2.616m (1998: £1.572m) on a turnover  that
increased  by 36.9% to £20.863m (1998: £15.231m).  The  drivers
of  this  growth  were a combination of a very strong  list  of
books  led  by  the  extraordinary  success  of  Harry  Potter,
increasing  repeat  revenue from our  backlist  catalogue,  the
first  full  year's  turnover from  Bloomsbury's  new  American
operation,  and the ground-breaking publication of the  Encarta
World  English  Dictionary,  which positions  Bloomsbury  as  a
leader  in  electronic  reference publishing.   The  publishing
industry recognised the achievements of the company by awarding
Bloomsbury  Publisher of the Year at the British  Book  Awards.
Side  by  side with these achievements, has been the  continued
championing of exciting new novelists and the nurturing of  our
established authors.

Review of Operations

Reference & Electronic Media Division

For  the  Reference and Electronic Media Division, 1999  was  a
year  both  of  fruition and of broadening  the  scope  of  the
business.   The Encarta World English Dictionary, an  ambitious
three-year project worked on by a global team of more than  350
experts was published to tremendous acclaim in August 1999.  It
was  the first dictionary to be published worldwide on the same
day  and the first to be published simultaneously in print  and
electronic formats. The Observer called the work ' a  milestone
in   the  history  of  our  language'.  The  Times  Educational
Supplement wrote, 'Bill Gates' and Bloomsbury's nimble  Encarta
dictionary beats an Oxford classic'. To date, it has sold  over
100,000  copies  in the UK alone in its print edition,  rapidly
establishing  itself as a leading dictionary  and  guaranteeing
itself a place on book shelves and computer screens for decades
to  come.  Following  its success, we  are  now  expanding  the
dictionary by a further 10,000 words.

The  launch  of The Encarta World English Dictionary  generated
much  interest in Bloomsbury's electronic reference  expertise.
We   have  formed  a  partnership  with  Macmillan,  a   global
publishing   company,  to  create  a  second  major  dictionary
database. This is aimed at over 750 million learners of English
worldwide, an enormous and rapidly growing market. We  estimate
that  by the year 2050, over 50% of the world's population will
have  some  competence in English, compared to 29%  today.  The
English   language   is  probably  now   the   most   important
communications tool in the world, representing as significant a
commercial   opportunity  as  the  internet   itself   or   new
developments in telephony. Bloomsbury's strategic goal for  the
Reference  and Electronic Media Division is to be  one  of  the
world's  leading providers of reference content for  print  and
electronic  publication for this global market. The demand  for
content  on the internet is insatiable, and with the advent  of
new  channels for the dissemination of information, such as WAP
technology, the demand for content generated from our databases
is set to continue.

During the year, we have been developing a further strategy for
successfully    exploiting   online   and   other    electronic
opportunities,  which will be implemented over  the  next  five
years.  We  plan to unveil some of these plans  in  the  months
ahead.

Book Division
1999  was another highly successful year for the Book Division,
with Bloomsbury once again demonstrating its ability to develop
both  bestselling  and  first  time  authors.  The  year  began
spectacularly with the publication of Anna Pavord's magnificent
work,  The Tulip, which became an international bestseller  and
won  the  British  Book Award for Design and Production.  Other
highlights  during  the year included Lesley  Glaister's  Sheer
Blue  Bliss,  a  new  work from one of Britain's  finest  young
novelists.

In  the  spring we published Shadow Box, a first novel  by  the
Irish  writer Antonia Logue, the rights to which we had secured
in  a  hotly  contested auction; Holy Smoke by  Jane  and  Anna
Campion  (the former is the author and director of The  Piano),
the film of which was released in March this year starring Kate
Winslett.  East of the Mountains, by David Guterson, author  of
the  international bestseller, Snow Falling on Cedars was  also
an immediate success. Summer highlights included Ahdaf Soueif's
The  Map  of  Love which was shortlisted for the Booker  Prize.
Three  major  biographies were published: Gore  Vidal  by  Fred
Kaplan,  Secrets  of  the Flesh, a biography  of  Collette,  by
Judith Thurman, and Vaclav Havel by John Keane.

During  the  year  we celebrated the fifth anniversary  of  our
paperback list, five years in which the list has carved  itself
a  niche as one of the most innovative and imaginative  in  the
UK.  Highlights  of  the  year included  the  bestselling  Easy
Riders,  Raging Bulls, an account of Hollywood in  the  Sixties
and  Seventies, one of the most talked about non-fiction  books
of  the  year.  Two  established  authors,  whom  we  had  only
previously published in hardback, have now joined our paperback
list  both  having seen significant increases in sales:  Nadine
Gordimer  with  The  House  Gun and Jay  McInerney  with  Model
Behaviour.This  underlines  the  increasing  strength  of   our
paperback  list  with  backlist income  growing  substantially,
based  on  the  huge success of lead titles and our  specialist
categories of film, music and American fiction. 2000 looks like
being  an  excellent paperback year with a marvellous array  of
bestsellers coming through, including East of the Mountains and
The Tulip in paperback.

Harry  Potter  led  the success of the children's  list.  While
these  books  reached  new  heights of  popularity,  our  other
children's   fiction  and  picture  books  also  increased   in
strength.  1999 opened with the launch of the paperback edition
of  Harry Potter and the Chamber of Secrets. UK paperback sales
of the books now total over 1.3 million.  Later in the year the
hard  cover  of the third in the series of seven  books,  Harry
Potter and the Prisoner of Azkaban, was launched, selling  1.25
million  to date. The books topped the bestseller list for  the
whole year. Our early prophecy that Harry Potter would become a
classic of children's literature is rapidly being realised.  In
a recent poll, JK Rowling's books were voted second after Roald
Dahl's output of 40 years, as the greatest children's books  of
all time.

Equally  pleasing has been the strong performance of our  other
children's titles. No Matter What by Debi Gliori, lived  up  to
its  promise with publication in 13 countries and sales figures
topping  275,000.  Other highlights included Face  by  Benjamin
Zephania  selling  25,000 copies in  the  UK  and  The  Selfish
Crocodile  which has been a paperback success with over  40,000
UK  sales.  Looking forward we can say with confidence that the
children's list is building up a catalogue of high quality long
term properties.

Bloomsbury USA continued to develop its American list with  the
additions  of  young American authors such as  Alyson  Richman,
author of The Mask Carver's Son, and James Gunn, author of  The
Toy  Collector.   UK originated titles such as The  Tulip  also
greatly benefited from having a dedicated marketing team in the
US   to  drive  sales.  In  2000,  highlights  include  Kitchen
Confidential by Anthony Bourdain. A serialisation is  appearing
in  the  New Yorker, with the book selected as a 'hot  tip'  on
Amazon.com.

Management
Alexandra  Pringle,  who joined us in May 1999,  was  appointed
Editor-in-Chief of the Book Division on February 11th 2000. She
has many years experience in publishing, as well as having been
a   literary  agent.  Liz  Calder  is  Publishing  Director  at
Bloomsbury,  building on the successes of her many  established
and bestselling authors.

David  Reynolds left the Company during the year  to  pursue  a
career as an author. He played a vital role as a co-founder  of
the  Company, and in building Bloomsbury into what it is today.
We thank him for everything and wish him well.

Dividend
The  Directors  recommend a final dividend  of  3.0  pence  per
ordinary  share (1998: 2.9 pence), making a total of 3.8  pence
per  ordinary share (1998: 3.7 pence) for the year.  The  final
dividend,  to be approved at the AGM, will be paid  on  4  July
2000 to shareholders on the register on 19 May 2000.

Prospects

The  future trading prospects for Bloomsbury are excellent. The
increased  profile of the company on the back of its  successes
in  the  Book  Division  is attracting more  talented  new  and
established authors than ever before. New initiatives to expand
the  base  from  which we exploit intellectual property  rights
have  been  put  in place. We recently announced a  partnership
with Creative Artists Agency, the leading Hollywood agency,  to
sell  film  rights  in selected Bloomsbury books  to  Hollywood
studios  and  television producers. Such deals  could  generate
significant  new royalty revenue streams for  us  in  years  to
come.

The success of the Encarta World English Dictionary has led  to
the  establishment of a new partnership with  an  international
company  to  develop  a  third major  reference  database,  the
details of which will be announced in the coming weeks.

Bloomsbury.com, our book sales and marketing site, has been  in
operation  since  September 1997, and has provided  us  with  a
sound basis of knowledge from which to move into our next phase
of  internet  operation. We believe that there is  considerable
scope  for  Bloomsbury to generate a significant  part  of  its
future  operations  from online sales.  The  dotcom  market  is
currently  being flooded with new start-ups, but we  feel  that
the  successful online operations of the future will come  from
companies  such as ours, with a considerable amount of  content
stored  in our archives, and a proven, profitable track record.
Further   developments  on  our  internet  operation  will   be
announced in the coming months.



In  summary, our divisions are firing on all cylinders with the
successes of the past encouraging us to drive forward with even
greater enthusiasm. We have much to look forward to and  remain
confident that Bloomsbury will continue to build on its current
value in the months and years ahead.

Nigel Newton
Chairman

               FINANCIAL REVIEW

Turnover  for  1999  increased  by  36.9%  to  £20.863m  (1998,
£15.231m) on the back of a very strong publishing list, a  full
year's  publishing programme from our Bloomsbury USA operation,
and  continued  growth  in the strength of  our  backlist.  The
increase  in  backlist  revenues and  the  economies  of  scale
derived  from  the large print runs on the Harry Potter  series
increased gross profit margins by 1.6% to 51.7% (1998,  50.1%).
Gross profit increased by 41.2% to £10.783m (1998, £7.637m).

Marketing and distribution costs increased by 87.9% to  £3.197m
(1998,  £1.701m). Key contributors to the increase in marketing
costs  include  the first full year's operation  of  Bloomsbury
USA,   the   launch  and  ongoing  marketing  of  the   Encarta
Dictionary,   and  promotion  of  the  Harry   Potter   series.
Distribution costs increased as a result of the growth of trade
and  export  turnover  and the first  full  year's  sales  from
Bloomsbury  USA.  Administrative costs increased  by  27.4%  to
£4.660m (1998, £3.659m). New personnel have been appointed  for
our  next  phase of organic growth. These include a  full  time
commissioning  editor for Bloomsbury USA, and a new  Publishing
Director.   There   is   also  a  variable   element   to   our
administrative expenses, which have increased as  a  result  of
the  increase in turnover. Operating profits increased by 28.5%
to £2.926m (1998, £2.277m).

The  interest charge for the year decreased by 56%  to  £0.310m
(1998,  £0.705m)  as a result of the funds  received  from  the
rights  issue  in 1998 and the 5% placing which took  place  in
November  1999.  Bloomsbury has had a  low  actual  tax  charge
because  of  timing  differences  arising  from  the  different
treatment  for tax and accounts purposes of amounts  which  are
deductible for tax purposes when paid. The directors have taken
the  view that some of the timing differences could reverse  in
the foreseeable future and therefore, a provision has been made
for  deferred tax. The effective tax rate for the year  is  31%
per  cent which takes account of the adjustment to the deferred
tax  provision  and the reduction in the corporation  tax  rate
from 31 per cent to 30 per cent. Profit after tax increased  by
60.7% to £1.805m (1998, £1.123m).

Basic  earnings  per share increased by 13.0%  to  13.56  pence
(1998, 12.00 pence). Fully diluted earnings per share increased
by 10.5% to 13.19 pence (1998, 11.94 pence).

Bloomsbury  has three major databases; the first,  the  Encarta
World  English Dictionary, was completed and launched in  1999.
The   other  two,  including  the  English  Language   Teaching
database,  are  currently  under development.  All  development
costs  of  the  databases are capitalised in work  in  progress
which  accounts for the bulk of the increase to £5.710m  (1998,
£3.770m).  The  capitalised  costs of  the  Encarta  Dictionary
database  are  being amortised over ten years. Finished  stocks
increased  by 32.5% to £3.750m (1998, £2.830m), which  reflects
the  increased stockholding on high stock turn books, the stock
holding  for  a full year's trading of Bloomsbury USA  and  the
stockholding of the dictionary. The stock turn of Harry  Potter
has been high, and to ensure that the series doesn't go out  of
stock,  large print runs are commissioned. The year  end  stock
holding reflects a high proportion of the last print run before
the  year end, all of which were rapidly sold early in the  New
Year.

Trade  debtors  increased by 100.5% to £7.580m (1998,  £3.781m)
due  to very strong second half trading. Export sales increased
159.1%  to  £8.306m (1998, £3.321m), and as they are on  longer
credit  terms than UK customers, a greater proportion of  those
sales is reflected in trade debtors. The full year's trading of
Bloomsbury  USA  is also included in the trade debtors  at  the
year-end.  Increasing backlist revenues and sub-licence  income
reduced  prepayments and accrued income by  16.1%  to  £11.980m
(1998, £14.280m).

The cash generated by sub-licence rights sales and the sale  of
books  continues  to grow, and is reducing the  requirement  to
fund  our  working  capital requirements  from  borrowings.  We
believe,  however, that acquiring intellectual property  rights
through  our  book  division  for  publication  and  developing
intellectual   property  rights  in  the  form   of   reference
databases,  for electronic as well as hard copy publication  in
the  Media and Electronic Reference Division, is the key to our
future  growth. The investment in these two areas, particularly
the  development of electronic reference databases, contributed
to  a  net  cash outflow from operating activities  of  £0.825m
(1998,  cash  inflow  £0.203m). Through a  combination  of  the
proceeds  from  the placing, which took place on 26th  November
1999  and  the retained profits for the year, gearing has  been
reduced to 2.5% (1998, 14.1%).

Placing

On  23rd November 1999, approximately 5% of the company's share
capital  was placed with institutions, raising £3.267m  net  of
expenses. The proceeds will be used to fund the development  of
reference databases and internet activity.

Shareholders' funds

At  31  December  1999, shareholders' funds stood  at  £18.424m
(1998, £13.765m), the increase due to the retained earnings  of
£1.276m (1998, £0.667m) and net receipts from the 5% placing of
£3.267m.

Strategy

Acquiring  and  developing rights in house for exploitation  in
electronic  or print form has been a primary profit  driver  of
the  company. We are always seeking to identify new  rights  to
exploit, and the agreement with the Creative Artists Agency  in
Hollywood  to  sell  film rights, highlights  our  strength  in
identifying opportunities for future long term growth.  Growing
organically requires long term investment, but our track record
does  show  that previous year's investments are now generating
significant  returns. We are continuing to acquire  rights  for
worldwide publication through Bloomsbury USA as well as in  the
UK.  Our  balance sheet is strong, with gearing at an all  time
low.  The list of authors we have built up has already produced
a  very  strong  list for 2000.  I am confident that  with  the
funds  received  from the placing in November  1999,  and  cash
being  generated from operations, Bloomsbury will  continue  to
establish  itself as a market leader in both the reference  and
electronic media division and the book division.

Going concern

Having   made  enquiries,  the  directors  have  a   reasonable
expectation that the Company has adequate resources to continue
in  operational existence for the foreseeable future. For  this
reason,  they  continue  to adopt the going  concern  basis  in
preparing the accounts.


Colin Adams ACA
Finance Director



                    PROFIT AND LOSS ACCOUNT
              for the year ended 31 December 1999
                               

                                 Notes     1999      1998
                                          £'000     £'000
                                      
                                                         
Turnover                             2   20,863    15,231
Cost of sales                           (10,080)   (7,594)
                                         ______    ______
Gross profit                             10,783     7,637
Marketing and distribution              (3,197)   (1,701)
costs
Administrative expenses                 (4,660)   (3,659)
                                         ______    ______
Operating profit                          2,926     2,277
Net interest payable                      (310)     (705)
                                         ______    ______
Profit on ordinary activities             2,616     1,572
before taxation

Taxation on profit on ordinary            (811)    ( 449)
activities                               ______    ______
Profit on ordinary activities             1,805     1,123
after taxation

Dividends                            3   ( 529)     (456)
                                         ______    ______
Profit for the financial year                            
transferred to reserves                   1,276       667
                                          _____     _____
Basic earnings per share             4   13.56p    12.00p
                                         ______    ______
Diluted earnings per share           4   13.18p    11.94p
                                        _______   _______

Notes

All turnover and results arose from continuing operations.

There were no recognised gains or losses in either year other
than the profit for the year and on this basis a statement of
recognised gains and losses has not been prepared.
                               

                               
                               
                         BALANCE SHEET
                      at 31 December 1999
                               
                                           1999            1998
                                          £'000           £'000
Fixed assets:                                                  
 Tangible assets                            371             284
                                                               
                                                               
Current assets:                                                
 Stocks                           9,507           6,694        
 Debtors due within one          15,750          12,173
year                              3,882           5,907
 Debtors due after more             554               -
than one year                    ______          ______
    Cash at bank and in          29,693          24,774
hand

                                                               
Creditors: amounts falling                                     
due within one year               9,052           7,853
                                 ______          ______
                                                       
Net current assets                       20,641          16,921
                                         ______          ______
                                                               
Total assets less current                21,012          17,205
liabilities

Creditors: amounts falling                              
due after more than one                                 
year                                      1,926          2,370
Provisions for liabilities                                      
and charges                                 662           1,070
                                         ______          ______
                                         18,424          13,765
Equity capital and                                             
reserves:                                   700             661
 Called up share capital                 13,520          10,176
 Share premium account                        9               9
 Capital redemption reserve               4,195           2,919
 Profit and loss account                 ______          ______
                                         18,424          13,765
Total shareholders' funds
                                         ______          ______

The  financial  statements  were  approved  by  the  Board   of
Directors on 27 April 2000.


J N Newton Director                  C R Adams Director
                               

      RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
              for the year ended 31 December 1999
                               
                                            1999   1998
                                           £'000  £'000
                                                
Profit on ordinary                         1,805  1,123
activities after taxation
                                                       
Dividends                                  (529)  (456)
                                                       
Share options exercised                      120      -
New shares placed net of                   3,263  5,437
expenses
                                          ______  _____
                                                      
                                                      
Net addition to                            4,659  6,104
shareholders' funds
                                                       
Opening shareholders' funds               13,765  7,661
                                          ______  _____
                                                      
                                                       
Closing shareholders' funds               18,424 13,765
                                          ______  _____
                                                       


                      CASH FLOW STATEMENT
              for the year ended 31 December 1999
                               
                                             1999   1998
                                            £'000  £'000
                                                 
Net cash (outflow) / inflow from            (807)    203
operating activities

Returns on investments and servicing                    
of finance                                              
                                            (323)  (737)
 Interest paid
 Interest received                              4      7
                                            _____  _____
                                                      
Net cash outflow from returns on                        
investments and servicing of finance        (319)  (730)

Taxation                                                
 Tax paid                                   (116)   (83)
Capital expenditure                                     
 Purchase of fixed assets                   (178)   (79)

                                                        
                                                        
Equity dividends paid                       (491)  (333)
                                                        
Financing                                               
 Repayment of loans                         (413) (2,383)
                                                      
    Share options exercised                   120      -
    Shares placed (net of expenses)         3,263  5,437
                                            _____  _____
                                                
Net cash inflow                             2,970  3,054
                                            _____  _____
                                                      
Increase in cash                            1,059  2,032
                                            _____  _____
                                                      

                     NOTES TO THE ACCOUNTS
                               
                               
1.    The  above  financial  information  does  not  constitute
  statutory accounts as defined in section 240 of the Companies
  Act 1985. The above figures for the year ended 31 December 1999
  are an abridged version of the Company's audited accounts which
  will be reported on by the Company's auditors before despatch
  to the shareholders and filing to the Registrar of Companies.

2.Geographical analysis of turnover

  The  directors  regard  the Company's business  as  a  single
  segment.  Its profit and turnover arises principally  in  the
  United Kingdom where its assets are located. The table  below
  analyses turnover by destination:
  
                                       1999          1998
                                      £'000         £'000
                                                         
   United Kingdom                    12,557        11,910
   North America                      4,975         1,952
   Continental Europe                 1,338           610
   Australasia                        1,286           523
   Others                               707           236
                                    _______       _______
                                     20,863        15,231
                                    _______       _______

  In the directors' opinion, disclosure of the analysis of the
  profit before tax by geographical segment would be seriously
  prejudicial to the Company.
  
3.   Dividends
                                       1999          1998
                                      £'000         £'000
   Interim, paid 15                     107            72
   December 1999
   Final proposed 3.0p per              422           384
   share
                                     ______        ______
                                        529           456
                                     ______        ______
                                                         
  

4.   Earnings per share

  Basic earnings per share has been calculated by reference
  to  earnings of £1,805,000 (1998, £1,123,000) and a  weighted
  average number of Ordinary Shares in issue of 13,314,273 (1998,
  9,358,242). The diluted earnings per share has been calculated
  by reference to a weighted average number of Ordinary Shares in
  issue of 13,699,566 (1998, 9,404,376).

5.   Annual General Meeting

  The  Annual  General  Meeting will be  held  at  12  noon  on
  Thursday 22nd June 2000 at 38 Soho Square, London, W1V 5DF.
  
6.   Report and Accounts

  Copies  of  the  Report and Accounts will  be  circulated  to
  shareholders  shortly and may be obtained after  the  posting
  date  from the Company Secretary, Bloomsbury Publishing  Plc,
  38 Soho Square, London, W1V 5DF.