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Media

Fantastic Beasts set to star for Bloomsbury Publishing

The book was originally written by JK Rowling back in 2001 but sales picked up again in the run-up to Christmas last year

How much has Bloomsbury Publishing (LON:BMY) been buoyed by the Harry Potter spin-off series, Fantastic Beasts and Where to Find Them, the latest literary phenomenon in the Bloomsbury portfolio?

The book was originally written by JK Rowling back in 2001 but sales picked up again in the run-up to Christmas last year following the release of a star-studded film version.

Rowling also wrote a new edition of the book which was published by Bloomsbury earlier this year and should help to drive revenues.

Results Thursday should give a clue as to whether Fantastic Beasts may even eventually rival the original Harry Potter franchise.

Consensus among City analysts is for a profit before tax of £12mln on revenues of £137mln.

It posted an adjusted profit before tax of £1.5mln on revenues of £62.7mln in the first six months of its year, but results are normally second half-weighted which should see those figures smashed.

The reason for the traditional weighting is that sales of peak titles peak in the run up to Christmas, while sales of its academic books rise at the start of the school year in autumn.

In-keeping with a 21st century business, Bloomsbury also has a keen eye on its plan to develop and expand its digital arm.

To do this it outlined its Bloomsbury 2020 plan which will hopefully see its digital publishing division generate revenues of £15mln and profits of £5mln by 2021/22. Look out for an update on how this is coming along.

Annual results are due Thursday.

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