Bloomsbury hopes to read profits in India
Bloomsbury Publishing is to turn a new page in India, with the formation of a wholly owned subsidiary in the subcontinent.
Bloomsbury Publishing is to turn a new page in India, with the formation of a wholly owned subsidiary in the subcontinent.
The new business will be headed up by Rajiv Beri, who has been Managing Director of Macmillan's Indian operations for over 15 years.
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Indians buy 50m English books every year and is expected to be a big market for ebooks.
News of the expansion initially saw Bloomsbury shares gain nearly 2% although they have since retreated and by 10.01 were down 0.81% on yesterday's close. Over the last year the firm's stock has done quite well, showing gains of 10%.
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