Bloomsbury shares jumped 11% after the publisher again improved its forecast

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Bloomsbury shares jumped 11% after the publisher improved its forecast again thanks to the best-selling fantasy novel House of Sky and Breath

  • Bloomsbury now estimates annual sales will ‘comfortably’ top £212.5m
  • The company was the second-biggest riser on the All-Share Index on Wednesday
  • Sarah J. Maas’ book House of Sky and Breath was a Sunday Times bestseller

Popular: House of Sky and Breath by Sarah J. Maas (pictured) became a Sunday Times bestseller after being published last month

Publishing giant Bloomsbury saw its shares become one of the biggest risers in London markets today as the group raised its annual outlook for the second time this year.

Bloomsbury Stocks were trading up 11% to £4.05 late Wednesday afternoon, making it the second biggest riser in the FTSE All-Share Index, behind peer-to-peer lender Funding Circle Holdings .

The London-based company now estimates sales will ‘comfortably’ top £212.5m for the 12 months to February 28, while pre-tax profit will be ‘significantly ahead’ of £22.3m sterling.

When the company announced its interim results in October, it forecast revenue of £193.4m and pre-tax profit of £19.3m for the 2022 financial year, a forecast which was later improved three months later.

Chief Executive and Founder Nigel Newton attributed the latest revised predictions to the strong global popularity of House of Sky and Breath, which follows a half-human, half-fairy creature named Bryce Quinlan.

This fantasy thriller was number one on both The New York Times Hardcover Fiction Bestseller list, where it remains in the top 20, and The Sunday Times Hardcover Fiction Bestseller list. after its release last month.

It is the second installment in Maas’ Crescent City series after House of Earth and Blood, also a major seller, and was described by one reviewer as “Game of Thrones meets Buffy the Vampire Slayer with a drizzle of EL James “.

Other popular titles recently released by the London-based company include Wendy Mitchell’s non-fiction book What I Wish People Knew About Dementia, Rosie Andrews’ The Leviathan and Chilean-American author Isabel Allende’s Violeta.

Bloomsbury also said there was significant demand for the titles on the list, including other books by Sarah J. Maas, Song Of Achilles by TikTok star Madeline Miller and the Harry Potter series, one of the company’s largest historical sources of revenue.

Major seller: Popular titles recently released by Bloomsbury include Violeta by Chilean author Isabel Allende (pictured) and What I Wish People Knew About Dementia by Wendy Mitchell

Major seller: Popular titles recently released by Bloomsbury include Violeta by Chilean author Isabel Allende (pictured) and What I Wish People Knew About Dementia by Wendy Mitchell

Newton said: “In February, the last month of our financial year, Bloomsbury achieved exceptional sales, thanks in part to Sarah J Maas’ new title, Crescent City: House Of Sky And Breath, which was a worldwide bestseller.

“Alongside this strong performance, we have managed to mitigate ongoing print supply chain issues, including printing titles earlier than usual and being flexible about where we print. »

It comes after Bloomsbury posted record sales and profits in the first half of the year, with the group revealing booksellers stocked up early to avoid any Christmas disruption.

This helped revenue jump 29% to £100.7m in the half to August 31. The group’s year also saw it hit performance milestones for its digital resources business, which supplies universities and other academic institutions.

Bloomsbury said it beat the target announced when the division was established in 2016 for it to achieve £15million in sales and £5million in profit by 2021-22.

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