Bloomsbury hopes for a ‘terrific’ Christmas period as people turn to cheaper books
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Bloomsbury hopes for ‘great’ Christmas season as people start using books as cheaper gifts amid cost of living crisis
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Bloomsbury is hoping for a ‘great’ Christmas as shoppers looking for cheaper gifts turn to books.
The Harry Potter publisher said an illustrated version of The Philosopher’s Stone will be a bestseller this festive period.
And Bloomsbury said Kamila Shamsie’s novel Best Of Friends and Tom Kerridge’s Real Life Recipes cookbook will fly off the shelves. Boss Nigel Newton said: ‘The public will flock to bookstores because they avoid more expensive Christmas gifts.’
Bestseller: Rupert Grint, Emma Watson and Daniel Radcliffe Star in Harry Potter and the Philosopher’s Stone
The publisher revealed record sales and profits for the six months to August 31. Turnover in the period was £123 million, 22 percent higher than a year earlier.
And profits were £16 million, up 23 percent from last year.
Shares rose 9.8 percent, or 40p, to 448.5p. The company has seen sales and profits soar since the pandemic hit as lockdowns boosted the demand for literature.
Newton said the interest in reading sparked during the lockdowns has continued as those who had given up reading “were reminded of the joy of it”.