Bloomsbury Publishing Expecting Profitability To Beat Expectations

19th Mar 2018 17:59

LONDON (Alliance News) - Bloomsbury Publishing PLC said on Monday it expects its full-year profit and revenue to both be ahead of expectations.

For the year ending February 28 the Harry Potter series publisher expects profit to be "well" ahead of expectations and revenue "slightly" ahead of expectations. For the prior year, Bloomsbury reported pretax profit of GBP9.4 million and revenue of GBP142.6 million.

This is the result, Bloomsbury said, of record sales of Tom Kerridge's Lose Weight For Good book, with over 70,000 copies sold in one week in January, more than any other book ever in a week that month.

The group also said it expects the net cash balance as of February's end to be "significantly" ahead of expectations at around GBP25.0 million.

Bloomsbury will post its annual results on May 22. Its shares closed up 1.8% at 168.00 pence per share on Monday.

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