Shares in Bloomsbury Publishing PLC (LSE:BMY) rose 4% in late morning trading on Thursday after the company said it expects annual results to exceed expectations.
The publisher, known for authors such as J.K. Rowling and Sarah J. Maas, reported strong performances across both its fiction and non-fiction divisions. Its academic arm, Bloomsbury Digital Resources, also grew despite challenges in the sector.
A key boost came from last year’s acquisition of US publisher Rowman & Littlefield. The integration is progressing well, and Bloomsbury has already repaid $7.5 million of the $37 million debt tied to the deal ahead of schedule.
Market forecasts had anticipated annual revenue of £333.4 million and pre-tax profit of £39.6 million. The company remains optimistic about its long-term strategy and will provide further details in May.
Despite tough comparisons from the previous year and a subdued academic sector, Bloomsbury has maintained momentum, noted Peel Hunt.
The stock trades at 15 times expected 2026 earnings, 9% below its five-year average of 16.5 times, the broker added, reiterating its 'buy' advice and 815p price target.
The shares, down 10% year to date, were up 22p at 602p.