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Bloomsbury Posts Profit Increase For Half Year

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September 1-15, 2005 Edition

Bloomsbury Posts

Profit Increase

For Half Year

LONDON/8/19/05—Bloomsbury Publishing, the house that publishes the famed Harry Potter series of books, Friday reported a small decline in pre-tax profits before goodwill for both last year’s interim report and full year figures under new International Financial Reporting Standards.

The company reported that first half pre-tax profits before goodwill for the first six months of 2004 dropped to £4.2m from £4.3m under the old UK GAAP accounting rules. Full year profit to December 31 will be £16.7m compared to £16.9m before.

Under the old accounting rules, pre-tax profits after goodwill improved to £4.2m from £3.9m and full year profit were at £16.7m from £16.2m.

Under the new accounting rules, a company can’t include goodwill amortization and new share options charges in its calculations. Pension scheme deficits and dividends can only be recognized when they have been declared or paid.

Results for the six months ending June 30 will be published on September 13.