This Reuters article falls under

Sep 26, 2001

Posted by: bkdelongTLC

News

This Reuters article falls under the category of “DUH”:

Harry Potter publisher Bloomsbury Publishing Plc reported a doubling of first-half turnover on Wednesday and said it expected a dramatic rise in sales as the fictional boy wizard makes his film debut.

Pre-tax profit surged to 2.85 million pounds ($4.2 million) in the six months to the end of June from 0.273 million in the same period the year before. Turnover doubled to 22.7 million pounds, and the British company raised its interim dividend by 50 percent to 1.5 pence per share.

“The release of the first Harry Potter film on November 16 will, we believe, trigger a dramatic increase in sales as a new audience is introduced to the books,” Chairman Nigel Newton said in a statement.

Shares in Bloomsbury added 22-1/2 pence or 3.3 percent to 715 pence in morning trade, continuing to rebound from a heavy loss over the previous two weeks.

Harry Potter books, by author JK Rowling, have proved a huge hit with children and even some adults, breaking many publishing records by selling more than 100 million copies.

Bloomsbury has launched a range of Harry Potter merchandise, including diaries, address books and personal organisers.

The new Hollywood film about the bespectacled boy wizard is expected to provide a big boost for AOL Time Warner Inc.’s Warner Bros. film division. The film will have its world premiere in London on November 4.





The Leaky Cauldron is not associated with J.K. Rowling, Warner Bros., or any of the individuals or companies associated with producing and publishing Harry Potter books and films.