Bloomsbury investors breathe sigh of relief as contracts signed

BLOOMSBURY Publishing shares leapt yesterday as the Harry Potter publisher reassured wary investors that new deals had been signed.

Having warned shareholders in January that certain contracts had not yet come through in its information division, which publishes the Encarta dictionary as well as certain business resources, Bloomsbury said that these deals had now gone through and that it was on target to meet full year expectations.

The news sent a wave of relief through the City, pushing shares up by 4.15 per cent. “The group has reached its rights and services income budget for the year. Post-Christmas digital sales and print returns were also on budget,” Bloomsbury said.

Bloomsbury, famous for its cooking books such as Paul Hollywood’s How to Bake, is expected to reveal a substantial rise to ebook sales when it reveals full year results in May, thanks to the launch of JK Rowling’s Pottermore series. Its shares rose 4.2 per cent.

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