Cambridge University Press (CUP), the publishing division of the UK's University of Cambridge, has reported its ninth successive year of growth in its annual report for the year to April 30, 2011. This is despite it being supposedly the most testing year in a decade due to the economic difficulties being faced by key markets.
CUP’s annual report shows that sales of books and journals increased by 12 percent to £224.9 million, and that overall revenues grew by 11 per cent, to £237.3 million.
Cambridge Learning, comprising CUP’s ELT and Education publishing groups, exceeded the previous year’s income by 10 percent and reached £112.9 million in turnover. Academic and Professional had a successful year, with global book revenues rising by 13 percent to £77 million. The Journals business generated over £35 million in global sales revenue, representing a 54 percent increase over the past four years.
The results have been published as CUP also announces top-level restructuring and staff changes to allow it to become more responsive in the digital environment through improved management information, faster decision-making and fewer fixed costs.
A new global Operations Committee will be established, which will help global coordination in areas like distribution and customer service to make the publisher more responsive and efficient. Andrew Gilfillan, Managing Director of Europe, the Middle East and Africa, will retire in April 2012, and Richard Ziemacki, President of CUP’s Americas operations, will retire at the end of 2011. Sales and marketing departments for EMEA and the US will now report in to the relevant publishing groups.
From January 2012, Richard Fisher will become the new Managing Director of Academic and Professional when Dr Andrew Brown retires from the role. Simon Ross will be promoted to Deputy Managing Director, Academic and Professional while keeping his existing role as Global Journals Director.
The Cambridge Learning group will be split to give clear focus on the different strategic needs of the ELT and Education publishing groups.
The Education Group will have responsibility for the Africa, Australia and India branches along with the International Education unit in Cambridge. The Education group will be led by Hanri Pieterse, who will be based in Cape Town.
The ELT Group will be headed by Michael Peluse, who will also take on management responsibility for North America, the two Latin America branches and the Iberia branch (with its new director Angus Oliver). Peluse will join the Press Board in January 2012 as Managing Director, ELT and Americas.
From January 2012, Tony Lund will head an enlarged Asia branch, including operations in Japan.
To access our daily STM news feed through your iPhone, iPad, or other smartphones, please visitwww.myscoope.com for a mobile friendly reading experience.
