Home 5 Articles and Reports 5 Harry Potter Returns and Bloomsbury Records fly as the Snitch

Harry Potter Returns and Bloomsbury Records fly as the Snitch

Bloomsbury UK achieves record figures for the first half of 2022

 Bloomsbury UK, the publisher of Harry Potter, has just reported its highest ever first half sales and profits.  The stellar figures prove the old adage that books do well in a recession or a cost of living crisis.  With many households in UK struggling to pay rising energy bills, books suddenly seem like good value.  People hold off buying a new sofa or taking an expensive holiday, but will happily send £20 on a book because, by comparison, it seems relatively cheap.

 Bloomsbury CEO Nigel Newton said: “Bloomsbury achieved very strong results in the first half with year-on-year revenue growth of 22% to £122.9 million and profit growth of 23% to £15.9 million. These are our highest ever first half sales and profits. These results demonstrate the strength and resilience of our strategy of publishing for both the consumer and academic markets, our growth of digital revenues and our global diversification.

 “Throughout this cost of living crisis, books remain an affordable treat.  Reading offers a form of escapism and an ideal – and inexpensive – therapy for dealing with the stresses and strains of day-to-day life.

 “The success of Bloomsbury Digital Resources accelerated, with revenue growth of 69% driven by organic and acquired assets. This drove the Non-Consumer division’s revenue growth of 24% and a 54% increase in profit before tax and highlighted items1 to £7.1 million. Resilient demand saw the Consumer division revenue grow by 21%, achieving a 6% increase in profit before tax and highlighted items1 to £8.9 million.”

 Newton added that the publisher’s financial position is strong, with net cash of £41.5 million. This gives the company significant opportunities for further acquisitions and investment in organic growth.

 Newton concluded: “In recognition of our performance and in line with our dividend policy, we are announcing a 5% increase in our interim dividend to 1.41 pence per share.

The strong first half performance means that we are confident of achieving the Board’s expectations for the year ending 28 February 2023.  The strength and resilience of Bloomsbury’s strategy and financial position means the Board is confident in its ability to achieve continued success. Bloomsbury plans to invest in further acquisitions and organic growth.”

 

 

Recent News

25Jun
Record Attendance at Beijing’s Revamped Book Fair

Record Attendance at Beijing’s Revamped Book Fair

 Beijing International Book Fair (BIBF) wrapped up on 23 June with organisers reporting more visitors and more international countries represented since before the pandemic. The fair’s new venue was warmly welcomed with organisers concluding:  “BIBF is forging ahead with hope and embracing the changes.”    This vear saw 1,600 exhibitors of which 1,050 were international […]

25Jun
Manilla Press Acquires Kenji Ueda’s Latest Novel

Manilla Press Acquires Kenji Ueda’s Latest Novel

A new race is on among publishers see who can find the next Japanese/Korean ‘quiet lit’ sensation.  The latest acquisition is by the UK’s Bonnier Books Manilla Press which has pre-empted Letters from the Ginza Shihodo Stationery Shop by Kenji Ueda, translated by Emily Balistrieri.   The publisher says the novel, set in the Ginza […]

24Jun
Boris Johnson to “Unleash” Political Tell-All Amidst Election Turmoil

Boris Johnson to “Unleash” Political Tell-All Amidst Election Turmoil

HarperCollins wins former PM’s memoirs With the Conservatives trailing in the polls in the UK, HarperCollins has announced it is to publish the memoirs of former Prime Minister Boris Johnson.  Unleashed will be published in the UK by William Collins on 10 October and in the US by Harper on 15 October.   The Conservatives […]

Related Posts

Manilla Press Acquires Kenji Ueda’s Latest Novel

Manilla Press Acquires Kenji Ueda’s Latest Novel

A new race is on among publishers see who can find the next Japanese/Korean ‘quiet lit’ sensation.  The latest acquisition is by the UK’s Bonnier Books Manilla Press which has pre-empted Letters from the Ginza Shihodo Stationery Shop by Kenji Ueda, translated by Emily...

The Mountains Sing by Nguyen Phan Que Mai: Book Review

The Mountains Sing by Nguyen Phan Que Mai: Book Review

The Mountains Sing by Nguyen Phan Que Mai: Book Review The Mountains Sing tells the story of the Vietnam War through the perspective of three generations of a relatively wealthy Vietnamese family living in the North. Although it touches on the occupation of the...

Yellowface by Rebecca F Kuang – Book Review

Yellowface by Rebecca F Kuang – Book Review

  Yellowface is set in the world of publishing that tells the tale of two young novelists in Washington DC. June Hayward is a novelist whose coming-of-age debut was released to middling acclaim. Wracked by careerist envy, June is debilitated by the success of her...

Previous Next
Close
Test Caption
Test Description goes like this

Pin It on Pinterest