Harry Potter publisher Bloomsbury is coping with life after the finish of the wildly successful teen-aged wizard series, with demand for its electronic books (ebooks) growing especially fast.
Ebook sales grew significantly in the final quarter of 2011, and were up 38% year-on-year. The group noted that ebook readers, such as Amazon's Kindle, were reportedly big sellers over Christmas.
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"We have a robust business, strongly adapted to the digital market place, that we have positioned to take full advantage of the continuing opportunities arising from growth of online sales and sales of ebooks," claimed Nigel Newton, Bloomsbury's Chief Executive Officer.
"Other Bloomsbury strengths of database creation, publishing management services and rights licensing are underpinned by an extremely strong author list as we set forth in the New Year, building on our many recent successful acquisitions," Newton added.
There is plenty of ammo still in the keg for further acquisitions, with net cash as at 31 December 2011 totalling £7m.
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