Potter books continue to boost Bloomsbury

The group reported a 13 per cent rise in sales to £161.5 million in the year ended February 28, with pre-tax profits jumping from £9.4 million to £11.6 million.

The company, best known for publishing the highly popular Harry Potter series of books, said that titles such as Tom Kerrigde’s Lose Weight For Good drove sales.

The weight loss book sold over 70,000 copies in one week, more than any book has ever sold in the UK in a seven-day period in January, according to the Nielsen BookScan records.

Bloomsbury said it expects results for this year to be “well ahead” of previous expectations, which resulted in shares bouncing over 7 per cent in morning trade.

The robust performance reflects an improving British book market, where special editions featuring vintage covers and new artwork have helped draw readers back to print formats.

The London-based publisher said its performance this year will be “well ahead” of previous expectations, helped by a strong autumn book list and the acquisition of IB Tauris, which focuses on history, social sciences and culture.

Chief executive Nigel Newton said: “I am delighted with the performance of our business over the last 12 months.

“It has been a great year that has put Bloomsbury in a very strong and exciting position. We have seen significant progress in both segments of our business.

“Bigger Bloomsbury marks the next exciting step in our growth, focusing on our key growth drivers with targeted strategies across the business to help grow our revenues and improve our margins over the next five years.”

Revenue at Bloomsbury’s children’s arm increased by 24 per cent to £69.2 million, with sales of the Harry Potter series up 31 per cent, driven by Harry Potter And The Prisoner of Azkaban Illustrated Edition.

At its adult unit, revenue was up 12 per cent year on year to £33.1 million with Kerridge’s weight loss title leading the charge.

Digital revenues grew by 12.5 per cent to £18 million in the year.