Bloomsbury Publishing PLC (LSE:BMY) said profits are expected to be “materially” ahead of current market forecasts thanks to strong sales of a number of consumer titles, in particular fantasy author Sarah J Maas.
All 15 of Maas' books, in the Crescent City, Court of Thorns and Roses, and Throne of Glass series, have been published by Bloomsbury throughout the world, with “excellent growth” in the backlist reported.
Revenue is anticipated to be “comfortably” ahead of City analysts' consensus of £274.2 million and underlying pre-tax profit “materially” ahead of the £32.9 million average forecast for the year to 29 February 2024.
Other consumer successes in the second half of the year include another fantasy title for younger readers, Impossible Creatures by Katherine Rundell; as well as Ghosts, the companion book to the BBC sitcom; The House of Doors by Tan Twan Eng in the US; the Harry Potter Wizarding Almanac; and We're Going on a Sleigh Ride, a lift-the-flap book by Martha Mumford and Cherie Zamazing.
Strong non-fiction consumer sales were enjoyed by Poppy Cooks: The Actually Delicious Air Fryer Cookbook by Poppy O'Toole, and the new Tom Kerridge book, Pub Kitchen.
The non-consumer division continues to trade in line with current expectations, the company said.
Chief executive Nigel Newton said the strong trading was “principally driven by the continued phenomenal demand for fantasy fiction. Bloomsbury has consistently built its success on the immense talent of our authors and the exceptional hard work of our teams who support them."