The global success of Fifty Shades Of Grey and other copycat erotic books hit Harry Potter publisher Bloomsbury as it lost out to rivals in the first half.
The group recorded a 42 per cent slide in pre-tax profits to £850,000 in the six months to 31 August after it said it suffered in a market “dominated” by best seller Fifty Shades, which is published by a rival, while the Olympics took its toll as shoppers stayed away from the high street.
Bloomsbury saw revenues decline 23 per cent to £9.3 million in its children’s and educational arm due to falling Harry Potter sales, with figures boosted a year earlier by the release of the final film.
But it is hoping for a second-half boost from a line-up including a Harry Potter “Hogwarts Library” box set by JK Rowling and Hugh’s Three Good Things by Hugh Fearnley-Whittingstall.