Bloomsbury hopes Heston can cook up a storm after profits fall
Friday 28 August 2009
Bloomsbury Group, which published the Harry Potter series, hopes that celebrity chefs and the Ashes can conjure up some magic in the second half, after profits plunged 66 per cent in the six months to June.
Profits at the group fell from £5.4m in the first half of last year to £1.8m in 2009, citing "difficult markets" and tough comparatives from 2008, when it released Harry Potter and the Deathly Hallows in paperback and The Kite Runner and A Thousand Splendid Suns were selling well.
"The impact of the global recession on the general book market is leading to slightly reduced volumes across the industry," Bloomsbury said.
Its chief executive, Nigel Newton, remained upbeat, saying it had a strong line-up from some of its highest selling authors, including cookery books from Heston Blumenthal and Hugh Fearnley-Whittingstall.
Bloomsbury will also be publishing work from Margaret Atwood, John Irving and William Boyd.
The group published its first Wisden Cricketers' Almanack since buying John Wisden in November. It will put Wisden out in e-book format for the first time this year. A new edition of Wisden on The Ashes is also being rushed to press for Christmas "following England's Ashes victory and the timing couldn't be better".
Mr Newton added that an increasing proportion of the group's revenue was generated from academic and specialist publishing which was "less susceptible to the vicissitudes of the consumer economy".
- 1 Sabrina Corgatelli: US hunting tourist posts picture of herself with dead giraffe after Cecil the lion outrage
- 2 Dutch King Willem-Alexander declares the end of the welfare state
- 3 A-level results 2015: UK exam board OCR admits it 'estimates' hundreds of pupils' grades after papers 'go missing'
- 4 Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks busy Dublin road
- 5 'Cool kids' can go on to become losers in later life, study finds
Sabrina Corgatelli: US hunting tourist posts picture of herself with dead giraffe after Cecil the lion outrage
'Gene drive': Scientists sound alarm over supercharged GM organisms which could spread in the wild and cause environmental disasters
Edward Heath 'child sex abuse' allegation: Investigation to be held into Wiltshire police handling of alleged claim in the 1990s
Labour leadership race: Jeremy Corbyn could be the next Prime Minister, says Ken Clarke
A-level results 2015: UK exam board OCR admits it 'estimates' hundreds of pupils' grades after papers 'go missing'
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
Landlords renting properties to illegal immigrants to face up to five years in prison
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Calais crisis: The seven claims made about the migrants - and the reality
iJobs Money & Business
£20000 - £25000 per annum + OTE £45K: SThree: SThree Group have been well esta...
£21000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
Up to 70k DOE: Guru Careers: We are seeking an experienced Financial Director ...
£11000 - £50000 per annum: Recruitment Genius: This financial company offer ma...