Significant sales of Sarah J. Maas’s new fantasy novel, Crescent City: House of Sky and Breath, in February prompted Bloomsbury to increase its full year guidance for the financial year ended February 28, 2022. The company now expects to see revenue of £212.5 million and profit before taxation and highlighted items of £22.3 million, according to a statement.
Other front list bestsellers included What I Wish People Knew About Dementia by Wendy Mitchell, Violeta by Isabel Allende, and The Leviathan by Rosie Andrews Strong. Backlist sales continued, in particular of Harry Potter, Sarah J. Maas, and Madeline Miller’s Song of Achilles, which has seen a sales spike from TikTok.
In addition to books, the company saw strong growth in revenue from Bloomsbury Digital Resources, which serves the academic sector. The division was first announced in May 2016, with a goal of generating £15 million of sales and £5 million of profit by February 28, 2022, and the firm stated it had achieved its goal.
“Bloomsbury excellent performance demonstrates the strength and resilience of our business and the successful execution of our digital and acquisition strategy,” CEO Nigel Newton said.
The news drove Bloomsbury’s stock up 12% in trading on the London Stock Exchange yesterday.
