Bloomsbury Publishing (BLPU.L) on Thursday forecast its full-year results to come in line with market expectations, after the Harry Potter publisher reported a higher first-half profit, buoyed by strong demand for its novels and academic resources.
Books from the Harry Potter series by author J.K. Rowling are seen on a shelf inside Widnes Library in Widnes, Britain September 12, 2018. REUTERS/Phil Noble/File photoon Thursday forecast its full-year results to come in line with market expectations, after the Harry Potter publisher reported a higher first-half profit, buoyed by strong demand for its novels and academic resources.
The publisher, best known for picking up J.K. Rowling's Harry Potter series in 1997 after its rejection by a dozen others, said it was benefiting from diversifying into digital learning along with resilient demand for its popular fantasy novels. "Results demonstrate the strength of our strategy of publishing for both the consumer and academic markets," CEO Nigel Newton said in a statement.
Full-year profit before tax and highlighted items is expected to be in line with average analyst expectations of 32.5 million pounds , according to a company-compiled consensus. The London-listed publisher reported profit before tax and highlighted items of 17.7 million pounds for the six-month period ended August, compared with 15.9 million pounds a year earlier.Thermo Fisher Scientific on Wednesday signaled that a slump in demand from biotechs for its services used in making therapies and vaccines could extend into the next year, sending its shares tumbling more than 7% and weighing on the sector.
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