(London) The publisher of the best-selling Harry Potter book series, Britain’s Bloomsbury, posted record results for its financial year ending at the end of February, continuing to benefit from the reading boom recorded during the pandemic.
Posted at 1:56 p.m.
“The question on everyone’s mind was: will the jump (in reading) during the pandemic continue? We now know the answer: reading is a habit that has been picked up and continues to thrive,” chief executive Nigel Newton said in an earnings release on Wednesday.
The publisher recorded its “highest results ever with sales up 24% to £230.1 million and profits – before tax and excluding exceptional items – up 40% to £26.7 million. books “. Over two years, sales are up 41%.
“The pandemic has made us all reassess how we spend our time and this has resulted in increased sales of books that allow us to explore our interests such as cooking, fitness activities, history or novels,” he adds.
Sales of the adventures of the little wizard Harry Potter series increased by 5% year-on-year as it approached the 25the anniversary of the launch of the first opus.
On the other side of the Bloomsbury catalog spectrum, educational books also benefited from the positive trend.
This continued in the first quarter for the group which “plans to invest actively in its growth at constant scope and through acquisitions” concludes the press release.