Bloomsbury to seek new magic as Harry Potter fades
BOOK publisher Bloomsbury said it was on the lookout for new children’s authors yesterday, as fading interest in wizard Harry Potter knocked first-half profits.
The group said it had hired a new children’s sales director to drive an “improved list of books” as the division recorded a £98,000 loss compared with a £855,000 profit last time.
It said a reduction in Harry Potter sales compared to last year – when the final film in the series was released – and booming demand for The Hunger Games Trilogy, published by a rival, had hit its figures.
Overall, the group posted a 41 per cent drop in profits to £850,000 on sales up 2 per cent to £43.5million.
E-book sales surged 89 per cent to £4.5million and its growing academic and professional division also did well.
Chief executive Nigel Newton, who also blamed the Olympics for keeping customers at home, forecast a stronger second-half led by Christmas demand for How To Bake by TV star Paul Hollywood.
Overall, the group posted a 41 per cent drop in profits to £850,000
E-book sales will also be boosted, as many people receive e-readers as presents. Newton said Bloomsbury was “well-positioned”.