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Bloomsbury laughing all the way to Gringotts Monday, 16th January 2012
Bloomsbury Publishing has reported a 38 per cent rise in ebook sales over Christmas, as muggles rushed to get their hands on bestsellers such as the Harry Potter box set.
A “strong” fourth quarter to 31 December saw the publisher benefit from the estimated 1.3 million e-readers sold in the UK over the Christmas trading period.
Bloomsbury said it expects to deliver full-year results in line with expectations, which analysts predicted to come in at £9.1 million profit before tax.
"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," said Nigel Newton, chief executive of Bloomsbury.
The company said it had £7 million in cash at 31 December.