Book publisher Bloomsbury Publishing (BMY) successfully fended off the dual headwinds of diminishing Harry Potter sales and the rise of e-books over the year to 28 February. That was largely thanks to another strong year of new titles in its Adult and Children's divisions, which helped push group-wide revenues up more than a tenth.
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A weak bottom-line performance from the Academic and Professional division was more than offset by a number of major bestsellers in the Adult division, including Khaled Hosseini's 'And the Mountains Echoed'. After stripping out restructuring costs and acquisition-related amortisation charges, pre-tax profits climbed by a more modest 4 per cent, reflecting a surge in sales and administrative costs.