London, Aug 31 (ANI): London based publishing house Bloomsbury is hoping that Harry Potter author JK Rowling will weave some more magic with her latest work.

Nigel Newton had founded the company in 1986, and its growth over the past few years has mainly been because of the Potter books, Mirror reported.

But now the publishers are facing a big dent in sales without any new adventures of the boy wizard.

The company is banking on Rowling's new book, 'Tales of Beedle the Bard', which they hope will be a big hit for Christmas when it is released in December.

Bloomsbury's profits fell by almost a fifth to 42m pounds in the first six months of the year, but cost cutting and a lower tax bill meant profits rose six per cent to 3.5m pounds. (ANI)