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Wednesday, 26 September, 2001, 11:11 GMT 12:11 UK
Harry Potter brings wizard sales
Harry Potter book
Bloomsbury, the publisher of the best-selling Harry Potter books, has reported a surge in profits thanks to sales generated by the fictional boy wizard.


Historically, books have proved to be resilient in economic downturns

Nigel Newton
Bloomsbury chairman
The company also said it expects sales to rise even further when the Harry Potter film is released next month.

"The release of the first Harry Potter film on November 16 will, we believe, trigger a dramatic increase in sales as a new audience is introduced to the books," said chairman Nigel Newton in a statement.

Pre-tax profits surged to £2.85m from £0.27m for the same period last year, while turnover doubled to £22.7m.

Phenomenon

The tales of Harry Potter have proved a massive hit with people of all ages.

Harry Potter books on sale
More than 110m Harry Potter books have now been sold
Bloomsbury has now sold more than 110 million copies of the books in several languages around the world.

The company has also cashed in on the phenomenon through a range of Harry Potter merchandise.

It is now preparing for the launch of the film in November and says its printers are poised for a "wide range of possible reprint figures".

'Excellent' outlook

Bloomsbury said in addition to Harry Potter, it had also had success with several books this year.

Other big sellers have included The Fourth Hand by John Irving and Kitchen Confidential by Anthony Bourdain.

"The prospects for the company, both in the UK and overseas, are excellent, with the Christmas period promising to be strong due to the number of potential bestsellers on our list," said Mr Newton.

He also said the company was well positioned to ride out any slowdown in the economy.

"Historically, books have proved to be resilient in economic downturns as they are seen as a low cost purchase," he said.

See also:

24 Sep 01 | Film
Toy shop bans Harry Potter
28 Mar 01 | Business
Harry Potter and the profit hike
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