Book publisher Bloomsbury has released a positive update on its trading for the financial year ending 29 February 2024.
The company said on Thursday that revenue for the year is now expected to be “comfortably ahead” and pre-tax profit “materially ahead” of current market expectations.
Consensus market expectations are currently revenue of £274.2m and profit before taxation and highlighted items of £32.9m.
During the year to date, Bloomsbury has seen “exceptionally strong” trading in its Consumer division for a number of titles, including those written by fantasy author Sarah J. Maas. Other popular bestsellers include Ghosts, the companion book to the BBC television series, Poppy Cooks: The Actually Delicious Air Fryer Cookbook by Poppy O’Toole, Pub Kitchen by Tom Kerridge, The House of Doors by Tan Twan Eng, the Harry Potter Wizarding Almanac, the official companion to J.K. Rowling’s books, We’re Going on a Sleigh Ride by Martha Mumford and Cherie Zamazing and the Waterstones Book of the Year 2023, Impossible Creatures by Katherine Rundell.
Bloomsbury’s Non-Consumer division is trading in line with current expectations.
“I am delighted to report a strong period of trading which is principally driven by the continued phenomenal demand for fantasy fiction,” said Bloomsbury chief executive Nigel Newton.
