Sixth Harry Potter set to boost publisher's profits

Pre-orders for the sixth book in the Harry Potter series have “substantially exceeded” expectations, the title’s publisher Bloomsbury said today.

The latest instalment – called Harry Potter and the Half-Blood Prince – is not due for release until July 16 but already looks certain to build on the phenomenal success of previous titles from author JK Rowling.

Bloomsbury did not disclose sales figures but said demand for the forthcoming hardback release would help leave 2005 profits far higher than hoped.

It is now looking for a surplus of at least £20m (€29m), compared with the £18m (€26m) forecast by City analysts.

Bloomsbury also announced results for 2004 today, with profits up 6.9% to £16.4m (€23.8m) – despite the lack of a new Harry Potter title in the year.

Aside from the continued adventures of the boy wizard, Bloomsbury has been buoyed by number one best-sellers in the world’s three largest book markets during 2004 – Jonathan Strange and Mr Norrell in the United States, The Two of Us by Sheila Hancock in the UK and Schott’s Original Miscellany in Germany.

It promised “significant progress” this year with new titles from John Irving and Ben Schott and paperback versions of some of its best-sellers likely to add to the profits boost from the Harry Potter release.

The optimism for the year ahead prompted Bloomsbury to offer shareholders a 47.8% increase in its final dividend payout, to 2.478p a share.