‘Publishing phenomenon’ Sarah J Maas sends Bloomsbury shares to a record high

Bloomsbury shares hit a record high as it hailed fantasy writer Sarah J Maas as a ‘publishing phenomenon’.

The company, best-known for the Harry Potter series by JK Rowling, raised its profit forecasts for the second time in three months as it cashed in on its latest star.

It has seen ‘exceptional growth’ thanks in part to the release of the latest best-selling novel from Maas – House of Flame and Shadow – at the end of January.

The book is the third instalment of the American author’s Crescent City series about half-fairy, half-human woman Bryce Quinlan.

With demand for the stories booming, Bloomsbury said results for the 12 months to the end of February will be ‘significantly ahead’ of already upgraded expectations in the City.

Gripping: Bloomsbury hailed fantasy author Sarah J Maas a ‘publishing phenomenon’ following the release of her latest best-selling novel – House of Flame and Shadow 

Analysts were expecting annual revenues of £291.4million and profits of £37.2million. 

But with those projections being upgraded again, shares rose 5.4 per cent, or 26.5 p, to a record 518 p.

Analysts at Investec now expect annual revenues of £329.3million and profits of £48.1million. 

‘The unparalleled success of Bloomsbury’s portfolio continues,’ said Investec analyst Alastair Reid.

Bloomsbury said Maas’s latest novel has driven demand for her previous 15 books. It has a further six by Maas, 37, in the pipeline.

Bloomsbury boss Nigel Newton said: ‘Sarah J Maas is a publishing phenomenon. We are very fortunate to have signed her with her first book 13 years ago.’

The books have flown off the shelves in part thanks to attention on social media.

‘Her books have a huge audience which continues to grow backed by major Bloomsbury promotional campaigns, driving strong word of mouth recommendation, particularly through TikTok and Instagram channels,’ said Newton.

Growing numbers of bookworms have taken to TikTok to share recommendations. 

A subsection of the app has helped to boost sales of books by fantasy authors such as Maas, and turbocharged Bloomsbury’s profits.

Fantasy hit: Sarah J Maas’s latest best-selling novel House of Flame and Shadow has been a top seller for Bloomsbury

The publisher, which was founded in 1986 by Newton, said the fantasy genre has become ‘extremely popular around the world’.

It will invest more in fantasy writing, it said yesterday.

Fantasy and science fiction books have grown 54 per cent over the past five years according to industry data from Nielsen BookScan.

Bloomsbury said Poppy Cooks: The Actually Delicious Air Fryer Cookbook by Poppy O’Toole, Pub Kitchen by Tom Kerridge and The House of Doors by Tan Twan Eng also sold well.

AJ Bell investment director Russ Mould said: ‘Bloomsbury has dined out on JK Rowling’s Harry Potter series for a long time – yet success with other titles shows that it is not a one trick pony. Sarah J Maas has become a phenomenon.

‘The fantasy genre is thriving and Bloomsbury is well placed to benefit as consumers seek to bury themselves into a novel so they are transported to a different world.’

This post first appeared on Dailymail.co.uk