Harry Potter publisher Bloomsbury tracks ahead of FY24-25 expectations on fantasy-fiction demand (updated)
24/10/2024 07:34
(Recasts lede, adds details and background)
Oct 24 (Reuters) - UK's Bloomsbury Publishing BLPU.L
on Thursday said trading in fiscal year 2024-2025 will be ahead
of current expectations, after posting a 32% jump in first-half
revenue, driven by another round of blockbuster performance of
Sarah J Maas's fantasy fiction titles.
The publisher, best known for picking up J.K. Rowling's
Harry Potter series in 1997, has managed to attract a broader
readership with "A Court of Thorns and Roses" or ACOTAR series
author Sarah J. Maas's fantasy-fiction novels.
The genre is gaining popularity among teenagers and adults
alike through word-of-the-mouth recommendations on social media,
including TikTok and Instagram.
The company reported revenues of 179.8 million pounds
($232.4 million), compared to the 136.7 million pounds it
reported last year.
It expects to report revenues of 319.3 million pounds and
pre-tax profit of 37.5 million pounds for the year ending Feb.
28, 2025.
($1 = 0.7735 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Sonia
Cheema and Sumana Nandy)
((Yamini.Kalia@thomsonreuters.com;))