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Bloomsbury reported a slip in half-yearly profit and said sales were expected to be even more second-half weighted than in previous years as its strong consumer list would likely see more demand in the run-up to the peak Christmas period.
'Traditionally, sales of trade titles peak for Christmas and sales of academic titles at the beginning of the academic year in the Autumn. With our strong Consumer list in the second half, our sales are therefore expected to be even more second-half weighted than in previous years,' the company said.
For the six months ended 31 August 2019, pre-tax profit fell to £1.3m from £1.6m a year earlier as revenue slipped to £71.3m from £75.3m.
The consumer division results were more heavily weighted to the second half this year, with its biggest titles, including the illustrated Harry Potter and the Goblet of Fire by J.K. Rowling and Jim Kay, published in October ahead of the peak Christmas period, the company said.
The company proposed an interim dividend increase of 6% to 1.28p a share.
'The group is performing in line with the Board's expectations for the full year,' it added.
At 8:48am: (LON:BMY) Bloomsbury Publishing PLC share price was -12.5p at 247.5p