Bloomsbury earnings fell in the six months ended August 31, 2026, but the publisher maintained its outlook for record full-year adjusted profit, supported by a second-half publishing schedule featuring Sarah J. Maas and Harry Potter. Results released on October 22 showed revenue of £151.6 million and adjusted profit before tax of £16.8 million, down from £159.5 million and £24.0 million a year earlier.
Key Takeaways
- First-half adjusted profit fell 30%, leaving the second-half publishing schedule central to the annual outlook.
- Two Sarah J. Maas novels and a Harry Potter television tie-in are scheduled to support consumer sales.
- Net cash rose to £22.8 million, while the interim dividend increased 5% to 4.28 pence per share.
Table of Contents
- Bloomsbury earnings decline despite stronger cash
- New releases underpin the second-half outlook
- Academic sales grow, but AI licensing weighs on profit
- Dividend rises as settlement and disposals remain pending
- Conclusion
Bloomsbury earnings decline despite stronger cash
Bloomsbury’s interim results for the six months ended August 31, 2026 show revenue falling approximately 5%, while adjusted profit before tax declined 30%. The adjusted profit margin was 11.1%.
Statutory profit before tax fell to £9.3 million from £18.3 million. The adjusted measure excludes acquired intangible asset amortisation and acquisition-related, integration and restructuring costs. Those excluded items totalled £7.5 million, compared with £5.7 million a year earlier.
Cash strengthened despite the earnings decline. Net cash increased to £22.8 million from £2.4 million, with lower stock levels supporting working capital improvements. Bloomsbury also repaid $10 million of its Rowman & Littlefield acquisition loan during the half.
| Item | Details |
|---|---|
| Adjusted diluted earnings per share | 16.67p, compared with 22.98p in the prior first half. |
| Statutory diluted earnings per share | 8.58p, compared with 16.79p a year earlier. |
| Remaining acquisition loan | $10 million, maturing in May 2027. |
| Dividend record date | October 30, 2026. |
| Dividend payment date | November 27, 2026. |
New releases underpin the second-half outlook
The board maintained confidence in record adjusted profit for the year ending February 28, 2027, in line with expectations. Bloomsbury identified the pre-announcement market consensus as £354.3 million of revenue and £49.9 million of adjusted profit; these are full-year expectations, not completed results.
Consumer revenue fell to £102.8 million from £113.4 million, while adjusted profit declined to £9.8 million from £13.4 million. Management said growth was weighted toward the second half, when several bestselling authors have scheduled releases.
Sarah J. Maas’s A Court of Splintered Harmony is scheduled for October 27, 2026, followed by A Court of Forgotten Melody on January 12, 2027. HBO’s Harry Potter series is scheduled to launch on Christmas Day, accompanied by a television tie-in edition of Harry Potter and the Philosopher’s Stone.
Major supermarkets have placed orders for the tie-in edition. That expands its retail reach, but the planned releases and orders should not be confused with sales already recognised in the first-half accounts.
Academic sales grow, but AI licensing weighs on profit
Academic & Professional revenue increased 5.9% to £48.8 million, with underlying growth across territories and both print and digital formats, excluding AI licensing.
The division’s adjusted profit nevertheless fell to £6.8 million from £11.0 million, and its margin narrowed to 13.9% from 23.9%. Bloomsbury said its non-exclusive AI licensing agreement continued into 2026/27, but at a lower value, reducing the margin.
The company is expanding its academic business through a new Singapore office and an Asia Studies digital publishing resource. These initiatives sit alongside the existing business rather than changing the weaker first-half profit comparison.
Dividend rises as settlement and disposals remain pending
Bloomsbury raised its interim dividend by 5% to 4.28 pence per share, extending its 31-year record of annual dividend growth. Capital allocation priorities remain organic growth, dividends and acquisitions.
The publisher has submitted claims in the Anthropic copyright settlement and is working through the settlement process. It has not announced a final amount payable to Bloomsbury.
Sale processes for Who’s Who and Osprey Board Games are also under way. These remain proposed disposals, not completed transactions.
Conclusion
Bloomsbury’s maintained annual outlook depends on a stronger second half following lower first-half profit. The next scheduled milestone is the October 27 release of A Court of Splintered Harmony, followed by the Christmas Day Harry Potter television launch.
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