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April 15-30, 2005 Edition
Increased ProfitsLONDON/04/02/05UK-based Bloomsbury Publishing PLC, which publishes the Harry Potter books, reported a 26 per cent increase in annual profits for the fiscal 2004 year. The increase came despite the release of any new Harry Portter titles during the period.
The July release of the sixth Harry Potter book, however, is expected to boost Bloomsbury’s profits even more for fiscal 2005. The new book, Harry Potter and the Half-Blood Price, is scheduled for release in July, and pre-orders for the title have been higher than originally estimated. In fact, Bloomsbury predicts 2005 profits before taxes will reach STG20 million ($A48.77 million).
Bloomsbury’s net profits increased from STG9.7 million ($A23.65 million) in 2003 to STG12.2 million ($A29.75 million) in 2004.
Sales climbed from STG83.1 million ($A202.63 million) the previous year, to STG84.4 million ($A205.8 million) in 2004.
Bloomsbury now has a presence in the US, UK and Germany and had bestsellers in all three markets, Chairman Nigel Newton reported. He also indicated the company will consider additional acquisitions, after having acquired Walker Publishing Inc. in the U.S. for $A8.29 billion late last year.
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