Bloomsbury profits jump as ‘joy of reading rediscovered’ in lockdown

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Wednesday June 2, 2021 at 4:32pm
Harry Potter publisher issues third profit upgrade of 2021 after sales increase to £185m

Lockdown reading has helped the Harry Potter publisher Bloomsbury to its third profit upgrade of the year after a 22% surge in annual pre-tax profits.

The company said people had “rediscovered the joy of reading” during the coronavirus pandemic, pushing its sales 14% higher to £185m in the 12 months to the end of February.

Bloomsbury performed significantly better than the wider UK publishing market, which recorded a 2% rise in sales during 2020, according to data from the Publishers Association.

The company said fantasy, escapism, social inclusion and cookery all sold well during the pandemic.

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