StockMarketWire.com - Book publisher Bloomsbury Publishing said its revenue had jumped 18% in the first four months of its financial year, beating its expectations, as folks kept reading during Covid-19 lockdowns.

Revenue for the four months through June increased to £49.5m, up from £42.1m on-year.

Bestsellers included the 'Harry Potter' series by J.K. Rowling, Sarah J. Maas' 'Crescent City: House of Earth and Blood' and 'Why I'm No Longer Talking to White People About Race' by Reni Eddo-Lodge.

Bloomsbury said its revenue and earnings were weighted towards the second-half of its financial year, which runs through February.

Sales of trade titles, it said, were expected to rise for Christmas, while sales of academic titles would improve at the beginning of the academic year in the Autumn.

The company said that since June, bookshops had started to re-open and internet, e-book, digital resource and some bookshop sales were doing well.

'Our digital strategy has placed us well to benefit from increased demand for digital resources, audio and e-books during the pandemic,' it added.

'Academic institutions are facing changes in their student mix, with fewer international students, and their higher fees.'

'Our good May and June performance in particular were unexpected, and historically demand for books has been resilient in times of economic downturns.'

'However, our customers are unclear about what is to follow.'

'Our outlook in the next eight months therefore remains uncertain as the pandemic continues.'


At 8:04am: [LON:BMY] Bloomsbury Publishing PLC share price was +9p at 209p



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