What is Bloomsbury going to do now?
Sunday 30 March 2008
The future of Harry Potter publisher Bloomsbury will be under City scrutiny this week, despite what should be a bumper set of results.
Analysts at Numis and Evolution have predicted at least a 200 per cent surge in pre-tax profit, to £17.5m and £16.8m respectively. Numis also forecast turnover of £131.6m, up from 74.8m last year. However, both houses are concerned about the future given that the final Harry Potter book was published last year.
A spokesperson for JK Rowling would not confirm whether she would continue writing for Bloomsbury, a cause for concern as the publisher's profits have soared every year she has completed a novel. Numis forecasts pre-tax profit of just £10m next year.
Evolution analyst Roddy Davidson said: "This is a watershed year. What are they going to do now? They're no longer going to get the Potter bonanza."
Bloomsbury is thought to have £42m in cash and the City is watching to see how it will spend it.
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