Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Harry Potter publisher Bloomsbury’s annual profit rises as readers lap up novels

by uma
0 comment

Harry Potter publisher Bloomsbury’s annual profit rises as readers lap up novels

(Reuters) -Bloomsbury Publishing posted a rise in full-year profit on Wednesday, helping the Harry Potter publisher propose a 10% hike in final dividend, as readers lapped up novels and online learning boosted demand for its digital academic resources.

A string of acquisitions to boost its portfolio and resilient demand for books as a form of affordable entertainment have helped Bloomsbury keep up demand amid still-high inflation.

Bloomsbury’s profit before tax stood at 31.1 million pounds ($39.25 million) for the year ended Feb. 28, compared with 26.7 million pounds a year earlier. Revenue rose 15% to 264.1 million pounds.

Trading for the year has started in line with the company’s expectations, Bloomsbury said, adding that it had proposed to increase its final dividend to 10.34 pence per share.

($1 = 0.7923 pounds)

(Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu)