Home Estate Planning Bloomsbury hikes dividend as Harry Potter and Sarah J. Maas titles power profit record

Bloomsbury hikes dividend as Harry Potter and Sarah J. Maas titles power profit record

by
0 comment

Bloomsbury has hiked its dividend as it reported strong revenue growth driven by continued “exceptional performance” from sales of Sarah J. Maas titles, along with other female authors.

The London-listed publishing giant recommended a final dividend of 10.99 pence per share, taking its full year dividend to 14.69 pence per share, an increase of 25 per cent year on year.

In its full year 2024 trading update, the firm reported revenue rose 30 per cent year on year in 2024 to £342.7m, while pre-tax profit soared 57 per cent to £49m.

The firm had “an outstanding year .. with exceptional trading leading to the highest revenue and profit in Bloomsbury’s 37 year history”.

“This dramatic increase arises from our entrepreneurial diversification strategy which has forged a portfolio of portfolios combining consumer and academic publishing across formats, territories and subject areas, a resilient model delivering long-term success,” explained chief executive Nigel Newton.

“In recognition of this performance and in accordance with our progressive dividend policy, the Board recommends a final dividend of 10.99 pence per share,” he added.

Consumer revenue increased 49 per cent, fuelled by literary success, in particular by sales of J. Maas’s fantasy fiction books, which rose 161 per cent last year.

Other key drivers included authors Katherine Rundell, Samantha Shannon and the ongoing popularity of J.K. Rowling’s Harry Potter, 26 years since first publication.

” Sarah J. Maas is a publishing phenomenon and we are very fortunate to have signed her up with her first book 14 years ago,” Newton said.

“Her books have captivated a huge audience, supported by major Bloomsbury promotional campaigns, driving strong word of mouth recommendation, particularly through social media channels.”

Bloomsbury’s digital resources revenue grew two per cent to £26.6m and the company said it remains on course to achieve its target of around £37m turnover in 2027 to 2028.

Trading for the year ended February 2025 is expected to be slightly ahead of current consensus expectation of revenue of £283.6m and profit before taxation and highlighted items of £35.4m.

“Expectations for 2024/25 reflect the exceptional performance in 2023/24, and that we are not expecting to publish a new Sarah J. Maas title in the year ending 28 February 2025,” Newton said.

You may also like

Leave a Comment

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?