Harry Potter publisher sees magic profits
Record-breaking sales of Harry Potter and the Half-Blood Prince ensured publisher Bloomsbury broke the £20m (€28.7m) barrier for annual profits today.
The group increased its surplus by 23.6% to £20.1m (€28.7m) as it set out plans for more launches resulting from the series over the next few years, including box sets, a paperback version of the Half-Blood Prince and the seventh and final title by JK Rowling. A release date for the book has yet to be scheduled.
Bloomsbury described the worldwide midnight launch of the most recent Harry Potter novel as a “triumph of logistical planning” and said it ensured revenues from its children’s division increased by 70% to £69m (€99m) in 2005.
Further strong sales are expected this year following the release of the paperback version in June, while there will be further benefits stemming from the screening of the next Harry Potter film, which is due in July 2007.
The cloth-bound gift edition of the seven books is also likely to become a major collector’s item, Bloomsbury said.
The company added: “We therefore envisage at least five more years of a variety of Harry Potter launches before it changes gear into the significant backlist life that awaits it.
“It will probably constitute one of the most significant backlists in modern publishing history.”
Among other titles, Bloomsbury benefited from the paperback releases of The Two of Us by Sheila Hancock and Jonathan Strange & Mr Norrell by Susanna Clarke.
