# Harry Potter publisher Bloomsbury’s annual profit rises as readers lap up novels
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-31
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Bloomsbury's Annual Profit Rises: 10% Dividend Hike
Meta Description: Bloomsbury Publishing sees surge in profit with increased demand for online learning and novels, proposing a 10% dividend increase.
URL: https://financedigest.com/harry-potter-publisher-bloomsburys-annual-profit-rises-as-readers-lap-up-novelshtml

# Harry Potter publisher Bloomsbury’s annual profit rises as readers lap up novels

(Reuters) -Bloomsbury Publishing posted a rise in full-year profit on Wednesday, helping the Harry Potter publisher propose a 10% hike in final dividend, as readers lapped up novels and online learning boosted demand for its digital academic resources.

A string of acquisitions to boost its portfolio and resilient demand for books as a form of affordable entertainment have helped Bloomsbury keep up demand amid still-high inflation.

Bloomsbury’s profit before tax stood at 31.1 million pounds ($39.25 million) for the year ended Feb. 28, compared with 26.7 million pounds a year earlier. Revenue rose 15% to 264.1 million pounds.

Trading for the [year has started in line with the company’s expectations](https://www.financedigest.com/taylor-wimpey-expects-full-year-profits-to-halve-amid-housing-gloom.html "Taylor Wimpey expects full-year profits to halve amid housing gloom"), Bloomsbury said, adding that it had proposed to increase its final dividend to 10.34 pence per share.

($1 = 0.7923 pounds)

(Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu)


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