Bloomsbury to try Morse code
12 April 2012
BLOOMSBURY Publishing has built up a £25m war chest thanks to the phenomenal success of Harry Potter books. But there are no plans to hand the cash back to shareholders. Instead chief executive Nigel Newton will buy new works, such as actress Sheila Hancock's memoir of her late husband, Inspector Morse star John Thaw.
Half-year profits grew nearly 10% to £3m. Analysts expect £12m for the year. But 2003 is anyone's guess. Bloomsbury is waiting for Potter author JK Rowling to deliver the manuscript of her fifth book in the series.
No one is saying when it will arrive. Rowling - under contract to deliver seven books in all - does not have a deadline. 'We will say when we are ready to publish,' said Bloomsbury.
Dividends rose 10% to 1.6p.
