Bloomsbury 2007 Profits Boosted by Deathly Hallows

This evening, the Sunday Herald is reporting that Bloomsbury, the UK publishers of the Harry Potter books, have seen increase in their annual profits for 2007 due mostly to the release of Harry Potter and the Deathly Hallows. Bloomsbury chief executive Nigel Newton is expect to announced that the publishing company profited an estimated £17 million (nearly $34 million) in 2007, up from 2006's profits of £5.2 million ($10 million). He is also expected to "claim that the Potter effect will continue for years ahead as the group dips into cash reserves of more than £40m, built up from past Potter sales, to promote new talent and to make further acquisitions."