Harry Potter sprinkles some magic over Bloomsbury's sales

 
Helen Cahill
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Sixth 'Harry Potter' Book Goes On Sale
Children's books bring in the lion's share of Bloomsbury's consumer sales (Source: Getty)

Harry Potter's magic continues to bring in the cold hard cash for Bloomsbury 20 years after the first book in the series was published.

The figures

For the six months ended 31 August, total revenues jumped 15 per cent to £72.1m, up from £62.7m. Adjusted profit before tax soared 74 per cent to £2.5m, as compared to £1.5m in the prior year.

Digital revenues rose from £7.7m to £8.9m, an increase of 15 per cent. Meanwhile, print revenues came in at £60.1m, up 16 per cent from £51.7m.

Why it's interesting

Bloomsbury said its Harry Potter titles "continue to sell strongly", fuelling the 20 per cent growth in revenues in its consumer arm. Sales in the division now total £37.3m, with children's books, which have seen 33 per cent growth, accounting for £31.7m of the total.

Steve Liechti, analyst at Investec, said Bloomsbury remained a "compelling" investment because it had a strong list of books lined up, and the firm had significant momentum in its children's division.

What Bloomsbury said

Nigel Newton, chief executive of Bloomsbury, said: "The group is trading in line with the board's expectations for the full year.

"October is the peak period for academic book sales and Christmas for the sales of consumer books. We therefore expect our results to continue to be second-half weighted, as in past years."

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