Reading resurgence in cost-of-living crisis helps boost Bloomsbury’s profits

The firm behind Bake Off star Paul Hollywood’s latest cookbook Bake is seeing surging demand for titles in print, ebook and audio.

Paul Hollywood’s latest cookbook Bake (Bloomsbury/PA)

People turning increasingly to books as an affordable hobby in the cost-of-living crisis has helped Harry Potter publisher Bloomsbury hike its full-year profit outlook.

The group – which is also the publisher behind Bake Off star Paul Hollywood’s latest cookbook Bake – said it was seeing surging demand for titles in print, ebook and audio, which is helping boost sales and profits, with trading particularly strong in recent months.

It now expects underlying pre-tax profits to be “materially” ahead of expectations, at about £30 million for the year to February 28 on revenues of more than £260 million.