Bonkers Bargain update | Excessive pay
A company covered here has just announced excellent results, but we remain wary that the Directors have taken out a good chunk of the profits and outside shareholders remain at the back of the queue to benefit. As always with smaller quoted companies, particularly those on AIM, it’s important to keep a close eye on the details. (Free to read)
Bloomsbury: bigger acquisition Bloomsbury Publishing (LON:BMY), the independent publisher, has acquired an established academic publisher ABC-CLIO. Our earlier in-depth commentary here: ’Bloomsbury: are wizard returns on offer for investors?’ highlighted the appeal since when the shares have performed strongly. ABC-CLIO is an established academic publisher of reference, non-fiction, online curriculum and professional development in both print and digital format for schools, academic libraries public libraries, operating predominantly in the USA. It generated revenues of $14.7m (£11.5m) and pre-tax profit of $1.2m (£0.9m) in the year ending 31 Dec 2020. The total consideration was $22.9m (£17.3m). Bonkers Bargain update Time Finance…