Harry Potter books lift Bloomsbury shares to an all-time high
Harry Potter special editions helped Bloomsbury’s revenue to its highest level since 2007, when the last of the original books came out, lifting the publisher’s shares to a 10-year high. Sales of the boy wizard’s adventures rose 31 percent in the year to the end of February, while titles such as Tom Kerridge’s Lose Weight For Good and A Court of Wings and Ruin by Sarah J. Maas also shone, Bloomsbury said on May 22. The London-based publisher said its performance this year will be “well ahead” of previous expectations, helped by a strong autumn book list and the acquisition of IB Tauris, which focuses on history, social sciences and culture. Bloomsbury shares were up 8.7 percent to 225 pence at 1023 GMT, their highest level since February 2007. The robust performance reflects an improving British book market, where special editions featuring vintage covers and new artwork have helped draw readers back to print formats. Bloomsbury’s revenue rose 13.3 percent to 161.5 million pounds ($217.3 million) in the year, surpassing the 150 million pounds it reported in 2007, while full-year pretax profit rose 10 percent to 13.2 million pounds.