OUP growth driven by strong emerging market performance

Oxford University Press (OUP) today reported headline growth of 11% with a turnover of £847.4m, and a trading surplus headline growth of 24% to £124m. On a like for like basis at constant currency rates, turnover was up 3.3% and trading surplus was up by 14%. OUP saw good underlying growth in both its academic and educational businesses. The academic division achieved a 2.4% turnover increase, with good performance from journals and other online products, where usage rose by 12% and 9% respectively; while the academic books business returned to growth. In OUP’s education divisions, overall turnover grew 3.7%, supported by curriculum reform in several important schools markets. Key regional drivers of growth were Africa, the UK, and Asia. In particular, OUP reported a return to double-digit growth (11%) in emerging markets overall, predominantly driven by strong school sales. Within emerging markets, two countries – China and India – achieved particularly high growth rates. Nigel Portwood, CEO, said, “We have had a good year right across the business, despite challenging market conditions. I am especially proud of the way our people contributed to this success. Their hard work has had a positive impact on the lives of millions of students, teachers, and researchers around the world.” In addition to delivering growth across its markets and business divisions, OUP has continued to focus on digital innovation. Within the Annual Report, highlighted digital projects and...
Source: News from STM - Category: Databases & Libraries Authors: Tags: Featured World Source Type: news