Bloomsbury Publishing PLC (LSE:BMY)’s share price was up 8.5% after the company announced its full-year results are expected to surpass market forecasts, following a strong first-half performance and robust trading in September and October.
For the six months ending August 31, revenue rose 32% to £179.8 million, while profit increased 50% to £26.6 million. This marks the fifth consecutive period of double-digit growth, driven by Bloomsbury's "2030 vision" strategy.
The consumer division led the way with a 47% revenue rise, fueled by the popularity of fantasy fiction, including a 102% sales boost for Sarah J. Maas' books.
The academic division was strengthened by the acquisition of Rowman & Littlefield, which contributed £7.2 million in revenue. The interim dividend increased by 5%.
The shares were up 58p at 740p, valuing the Harry Potter publisher at £604 million.