Bloomsbury shares rise as analysts eye next Sarah J. Maas novel
Fantasy novelist Maas topped bestseller lists again in the UK and US with the paperback launch of House of Flame and Shadow in June, helping to nab Bloomsbury the Publisher of the Year crown at this year's British Book Awards.
The popularity of Mass' work has become a major driver of sales at Bloomsbury, which is best known for Rowling's Harry Potter series.
Rowling's Pocket Potters series is set to hit shelves in August and Bloomsbury told shareholders on Wednesday is has 'a strong front list in the remainder of the year'.
Bloomsbury's academic publishing unit has also shown progress following the 'game-changer' acquisition of Rowman & Littlefield earlier this year.
It expects full-year results to be in-line with market expectations of £335.9million in revenues and £41.86million in profits before taxation and highlighted items.
Fantasy novelist Maas topped bestseller lists again in the UK and US with the paperback launch of House of Flame and Shadow in June
The group said: 'We continue to execute our Bloomsbury 2030 vision focused on our growth, portfolio and people.
'The resilience of our business created through the portfolio of portfolios strategy underpins the confidence our Board has in the future.'
Bloomsbury Publishing shares were up 3.7 per cent to 505p in early trading. They were dealt a blow in May after the group posted weaker profits.
Another Maas novel to lift earnings?
Analysts at Peel Hunt expect academic performance to remain 'subdued in the near term' but think Bloomsbury's consumer arm could boost shares over the next year.
Jessica Pok and Melanie Yang wrote in a note on Wednesday: 'Bloomsbury made no reference to a new Sarah J. Maas title in today's statement.
'However, the author revealed on social media last week that the first draft has been completed.
'Her Instagram post has garnered 835k likes and 35k comments in just four days.
'The publisher has not yet issued an official announcement regarding the book or its release date. For context, House of Flame and Shadow was published roughly 10 months after its formal announcement.
'While a FY26 release remains possible, we believe FY27 is a more realistic timeline.
'The book has the potential to add c.£9million to FY27E EBIT, representing a 20 per cent uplift to our current forecasts.'
Peel Hunt holds a target price for Bloomsbury shares of 815p – roughly 60 per cent ahead of their current value.
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