Harry Potter publisher turns page on book sales

Harry Potter publisher Bloomsbury has upped its full-year profit outlook after book sales rebounded during the cost of living crisis.

A resurgence in reading has boosted Bloomsbury’s sales and profits for last year. It noted strong demand from both its fantasy novels and academic division in print, ebook and audio.

Bloomsbury now forecasts pre-tax profits of £30m for the year to Feb 28, up from initial expectations of £26.9m. Its revenue estimation has also been adjusted from £242.6m to £260m.

“Throughout a year characterised by rising inflation and cost of living pressure, it is notable that reading remains hugely popular,” said Nigel Newton, chief executive.

Its shares closed up 8pc at 447p.