Yahoo Finance Summer weather boosts Bloomsbury books
Summer weather has boosted the sales of two Bloomsbury books, putting the company on track to hit market expectations.
Tom Kerridge’s Outdoor Cooking and Psycho By The Sea by Lynne Truss have been successful recently, the company told its shareholders on Wednesday.
In the four months ending June 30, sales of children’s books soared by nearly a third to £24.8 million.
Nearly 15 years since the last book was released, JK Rowling’s Harry Potter series remained one of the best sellers. Sarah J Maas’ A Court of Silver Flames was also one of the best performers, Bloomsbury said.
Total sales to consumers, both children and adults, rose 26% to £39.7 million.
Lisa Taddeo’s Animal was among the best selling adult books.
“Bloomsbury is pleased with the performance of our business for the first four months of the year and the strong June sales of its two new acquisitions, Red Globe Press and Head of Zeus,” the business said.
It is “actively targeting” opportunities to buy other businesses to build growth in the long term.
The board said that revenue will be around £193.4 million and profit before tax and highlighted items will reach £19.3 million in the year ending February 28 2022.
The business’s academic and professional lines grew sales by 35% to £15.8 million in the most recent four-month period. Total sales rose 31% to £63.1 million.
Bloomsbury’s announcement came on the same morning that fellow publisher Future said that it expects full-year profitability to be “materially ahead” of what analysts currently expect.
Future chief executive Zillah Byng-Thorne said: “We are delighted that the Group’s strong performance has continued throughout the period, which is testament to the strength of our diversified revenue streams and global reach.”
Future publishes magazines including Cycling Weekly, FourFourTwo, PC Gamer and Gun Trade News.
