MIDAS SHARE TIPS: Ebooks are 魔法 at Harry Potter publisher Bloomsbury

By Simon Watkins for The Mail on Sunday

Updated: 14:58 BST, 16 July 2012

There may be no more Harry Potter adventures to come from the pen of JK Rowling, but Bl oomsbury Publishing, which put out the series, is still showing a 誘発する of 魔法 and is on 的 to 増加する sales and 利益（をあげる）s.

The 株 低迷d はっきりと に向かって the end of last year まっただ中に 恐れるs of a 消費者 減産／沈滞, but they are now on the rise and 価値（がある） buying.

人物／姿／数字s for the first ４半期/4分の1 of the year, 解放（する）d by Bloomsbury last week, were 約束ing, helped by a strong 名簿（に載せる）／表（にあげる） of new 肩書を与えるs, 含むing a 範囲 調書をとる／予約するs by celebrity chefs that 含む Hugh Fearnley-Whittingstall and Heston Blumenthal and a fiction 名簿（に載せる）／表（にあげる） that 含むs this year’s Orange Prize 勝利者, The Song Of Achilles, by American author Madeline Miller.

見通し: Bloomsbury Publishing is 拡大するing beyond Harry Potter

Sales of print 調書をとる／予約するs fell two per cent, but this was more than 相殺する by those for ebooks, which jumped 70 per cent. Last year print sales were £78.9million and those for ebooks were £5.7million, meaning that if the 最新の 傾向s continue throughout the year, they would result in an 全体にわたる rise in turnover. Crucially for 利益（をあげる）s, ebooks should 供給する a higher 利ざや.

The fact is that a 転換 away from printed 調書をとる／予約するs to ebooks might 上げる sales and 利益（をあげる）s at Bloomsbury. The company has spent years 準備するing for the new 時代 and has digitised much of its 支援する 目録 of 肩書を与えるs.

Bloomsbury 開始する，打ち上げるd the subscription-based Churchill 古記録 online last month, giving 接近 to the 総理大臣’s personal letters and correspondence with other world leaders.

同様に as 存在 井戸／弁護士席 placed for the continuing 数字表示式の 革命 広範囲にわたる the 産業, Bloomsbury has 始める，決める its sights on the academic and professional publishing market as a sphere for growth. From a standing start in 2008, the 分割 now accounts for a ４半期/4分の1 of sales and わずかに more than a ４半期/4分の1 or 利益（をあげる）s. This market also 申し込む／申し出s a good 適切な時期 for growth in America and Asia.

Children’s 調書をとる／予約するs, which are still 支配するd by the Harry Potter series, also account for a ４半期/4分の1 of sales, while the remaining half comes from mainstream adult fiction and 非，不，無-fiction 肩書を与えるs.

Midas 判決: Bloomsbury has moved on from the 時代 when it was known for Harry Potter and little else. While th e boy wizard is still a 価値のある part of its 目録, Bloomsbury has 発展させるd to take advantage of the ebook にわか景気, turning what could have been a 脅し into an 適切な時期.

It has also 拡大するd in 最近の years into the realm of academic and professional publishing, which 供給するs a high-利ざや international 商売／仕事.

The 株 are 貿易（する）ing at 117p ?about eight times 収入s per 株 ? and with a （株主への）配当 推定する／予想するd to 最高の，を越す 5p, the 在庫／株 should 産する／生じる more than four per cent. The group has 逮捕する cash in the bank of about £12million.

The 株 are a buy.

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