Bloomsbury Publishing has maintained its full-year financial outlook after reporting a solid start to the new fiscal year, supported by continued income from artificial intelligence licensing
agreements and steady growth in its academic publishing business.
The UK publisher, best known for JK Rowling's Harry Potter series and Sarah J. Maas' A Court of Thorns and Roses novels, said trading during the first four months of the year had met expectations.
Bloomsbury said revenue from AI licensing agreements continued to contribute to performance following its partnership with Google, announced in September last year.
The company expects adjusted pre-tax profit for the year to remain in line with analysts' consensus forecast of £49.9 million ($66.9 million).
It also reported continued growth across all regions in its academic and professional publishing division, which has become an increasingly important part of the group's business alongside its consumer publishing operations.
The update suggests Bloomsbury remains confident that demand for its specialist publishing portfolio and income from AI-related licensing agreements will help underpin earnings over the remainder of the financial year. Photo by Paul The Archivist, Wikimedia commons.
