Online bookseller The Book Depository’s revenue soared 20% to £74.2m in the year to June 30 as the etailer focused on overseas territories.
The company said since its year end, sales have been going “really well” and are “far above” last year’s figures, after the successful launch of a ‘refer a friend’ promotion.
The bookseller has also benefited from a focus on more popular “mass market” titles, as well as its children’s range.
In the period the etailer grew US sales from 3% of total sales to 6%. “America is a big English speaking market for us,” said managing director Kieron Smith. “There’s huge potential there.”
In the UK Smith said that the etailer is starting to “gain some awareness”. “Our prices are very keen here and the ranges are very good,” he added.
He said that profits have also grown this year, but declined to give figures.
The etailer, which delivers to 100 countries, said overseas sales drove growth, in South America, Eastern Europe and southeast Asia, particularly Singapore. 73% of The Book Depository’s sales are generated overseas, up from 60% last year.
Smith said that the retailer’s “commitment to making as many books as it can available to as wide a readership as possible lies behind this strong performance”.
The Book Depository launched ebooks in January. While Smith said they do not represent a significant proportion of sales yet, he said the retailer wanted to “offer as many things as possible to the consumer”.
He added: “Ebook sales are growing but still by far the majority of sales are in the physical format.”
The etailer is preparing to launch Espressio.com in the next few weeks. It will enable users to publish their own books, and is in beta testing currently.
The etailer is headquartered in Eton, Berkshire, and uses a distribution centre in Gloucester.