Bloomsbury pins hopes on Harry Potter reissue

BLOOMSBURY has seen profits during the first six months of the year plummet by almost 50 per cent, as the publishing house puts its hopes on a November re-launch of the Harry Potter series to pull it back up to 2009 levels.

For the period ended 30 June, Bloomsbury saw profits of £949,000, which were 48 per cent down on last year when profits came to £1.8bn.

Bloomsbury is hoping that a pipeline of new releases in the second half of the year, which is traditionally stronger for the publisher, will push its figures back up.

In November the group will re-launch the Harry Potter series, which will have new jackets, to coincide with the release of the latest film in the cinemas.

Meanwhile, revenue at the publisher rose to £36.8m during the first six months of the year, a marginal increase from the £35.3m it posted in 2009.