FTSE 250 movers: Bloomsbury surges on update

(Sharecast News) - FTSE 250 (MCX) 21,672.25 -0.08%

Bloomsbury Publishing said on Wednesday that full-year results were on track to meet targets, driven by the ongoing popularity of blockbuster authors such as Sarah J Maas and JK Rowling.

Updating investors ahead of its annual general meeting, the Harry Potter publisher said its consumer division had benefited in particular from the paperback launch of Maas' House of Flame and Shadow in June.

The fantasy booked topped the bestseller lists in both the UK and US.

In addition, it noted that Rowling's Pocket Potters series would launch in August, alongside a "strong" front list for the remainder of the year.

Pocket Potters are mini guides to all the main characters featured in the enduringly popular wizardry series.

In its non-consumer division, meanwhile, Bloomsbury said the integration of Rowman & Littlefield was continuing, with over 5,300 titles now digitised.

Bloomsbury announced last year it was buying the American publisher's academic business in an $83m deal, its largest acquisition to date.

As a result, the firm - which publishes interim numbers in October - said it expected full-year results to be in line with consensus.

The market has currently pencilled in pre-tax profits, before one-off costs, of £41.6m on revenues of £335.9m for the year to 28 February 2025.

Bloomsbury concluded: "We continue to execute our Bloomsbury 2030 vision focused on our growth, portfolio and people. The resilience of our business created through the portfolio of portfolios strategy underpins the confidence our board has in our future."

Bytes Technology was boosted by an upgrade to 'buy' from 'hold' at Jefferies, which cited an attractive risk/reward.

FTSE 250 - Risers

Bloomsbury Publishing (BMY) 519.00p 6.57% Lion Finance Group (BGEO) 7,370.00p 3.51% Bridgepoint Group (Reg S) (BPT) 346.60p 3.40% Bytes Technology Group (BYIT) 341.00p 3.33% Ninety One (N91) 195.50p 2.73% Lancashire Holdings Limited (LRE) 621.00p 2.48% Foresight Solar Fund Limited (FSFL) 92.00p 2.45% Man Group (EMG) 179.90p 1.93% Moonpig Group (MOON) 215.50p 1.89% TP Icap Group (TCAP) 308.00p 1.82%

FTSE 250 - Fallers

Aston Martin Lagonda Global Holdings (AML) 75.00p -6.13% Hochschild Mining (HOC) 263.60p -3.94% Safestore Holdings (SAFE) 651.50p -3.12% WH Smith (SMWH) 1,021.00p -2.76% Pets at Home Group (PETS) 236.20p -2.32% Mitchells & Butlers (MAB) 277.00p -2.12% B&M European Value Retail S.A. (DI) (BME) 229.90p -1.88% Hilton Food Group (HFG) 855.00p -1.84% QinetiQ Group (QQ.) 487.20p -1.81% Wetherspoon (J.D.) (JDW) 766.00p -1.73%