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Business News

Bloomsbury gets by without Harry Potter

Academic and business publishing will never have the magical allure of Harry Potter, but entering these markets looks to be paying off for JK Rowling's old publisher, Bloombsury.

Pre-tax profits climbed 12 per cent to £9.8m in the year to February, even though revenues were up only 1 per cent at £98.5m. The chief executive Nigel Newton has broadened the publisher's portfolio, also taking in areas such as cookery, sport and natural history, with the aim of being "number one" in each sector.

E-books have kept growing, up 61 per cent at £9.1m. Mr Newton hopes to generate 50 per cent of profits from digital in five years.