August 23, 2011
Oxford University Press has announced a leap of pretax profits of nearly 25% for its last financial year. The academic publisher reported pretax profits of £122.6m in the 12 months to 31st March 2011, up from £98.5m last year. The company also increased sales by nearly 6%, to £648.6m in that period, up from £611.9m last year.
In the company's annual report, OUP Chief Executive Officer Nigel Portwood (pictured) described the results as "excellent" and noted that 85% of its sales come from outside of the UK, with 37% in emerging markets such as schools in India and China.
ELT continues to be the largest part of OUP's publishing activities. Portwood commented: "The Press’s ELT activities were very successful overall, despite large variances across its markets. Our sales in many parts of Europe and Asia were strong, with the notable exceptions of Greece, Portugal, and South Korea... Latin America provided significant growth, particularly in Brazil. We continue to be the global leader in British-English ELT materials, and second for US-English—positions we defend vigorously through some noteworthy brands, and growing investment in online testing systems and digital products."
• Oxford University Press Annual Report
• Cambridge University Press posts sales of £215 million
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