In the midst of the pandemic, Bloomsbury reports increased sales of cookbooks and novels.
Bloomsbury (BLPU.L), the Harry Potter publisher, anticipated ongoing solid profit from more significant sales of cooking and fantasy novels on Wednesday, citing a revived love for reading amid the pandemic.
London-based Bloomsbury has raised its expectations multiple times this year, citing "excellent sales success" in its consumer sector, incorporating adult and children's publishing. Almost a third of the total after their first publication, JK Rowling's Harry Potter books continue to fascinate new readers.
Sales of the boy wizard series gained 7% during the last year, that according to Bloomsbury. According to figures from the Publishers Association, Bloomsbury performed much better than the overall UK publishing market, which had a 2% spike in business in 2020.
Fantasy, escapism, social inclusion, and cooking, according to the firm, all sold well during the pandemic. "I think that it is the (reading) habit itself which may have become permanent as people have rediscovered the role of books in their lives," Chief Executive Nigel Newton said after a 22 percent increase in the annual earnings and the announcement of a special dividend.
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