Bloomsbury sales surge on Harry Potter and Tom Kerridge
The group reported a 13% rise in sales to £161.5 million.
Bloomsbury posted a solid rise in sales and profits last year as chef Tom Kerridge’s new cooking book and Harry Potter boosted the publisher.
The group reported a 13% rise in sales to £161.5 million in the year ended February 28, with pre-tax profits jumping from £9.4 million to £11.6 million.
The company, best known for publishing the Harry Potter series of books, said that titles such as Kerridge’s Lose Weight For Good drove sales.
The weight loss book sold over 70,000 copies in one week, more than any book has ever sold in the UK in a seven-day period in January, according to the Nielsen BookScan records.
Bloomsbury said it expects results for this year to be “well ahead” of previous expectations, which resulted in shares bouncing over 7% in morning trade.
Chief executive Nigel Newton said: “I am delighted with the performance of our business over the last 12 months. It has been a great year that has put Bloomsbury in a very strong and exciting position. We have seen significant progress in both segments of our business.
“Bigger Bloomsbury marks the next exciting step in our growth, focusing on our key growth drivers with targeted strategies across the business to help grow our revenues and improve our margins over the next five years.”
Revenue at Bloomsbury’s children’s arm increased by 24% to £69.2 million, with sales of the Harry Potter series up 31%, driven by Harry Potter And The Prisoner of Azkaban Illustrated Edition.
At its adult unit, revenue was up 12% year on year to £33.1 million with Kerridge’s weight loss title leading the charge.