New chapter for Bloomsbury on re-launch of Harry Potter series
Bloomsbury is pinning its hopes on a re-launch of the Harry Potter series in November to coincide with the boy wizard's latest movie adventure.
The publisher's chief executive Nigel Newton believes the first celluloid instalment of Harry Potter And The Deathly Hallows will bring a whole new generation of young readers to the novels.
Wizard idea: Bloomsbury will re-launch the Harry Potter series later in the year
'The films are in effect a two-hour advertisement for the books,' said newton, who is targeting the ' seven-hundred thousand eight-year olds coming through the ranks every year'.
Bloomsbury is also looking to tap into the boom in digital books. newton believes Britain is 'one year behind America', where e-book sales trebled in the first six months of 2010 to £120m. His bullish predictions came as Bloomsbury (down 1p to 113.3p) blamed uncertainties surrounding the election and austerity budget for a 48pc drop in pre-tax profits to £949,000 between January and June.
With a £33m warchest, newton is looking for further acquisitions after beefing up its non-fiction wing following a spate of recent takeovers.
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