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Cambridge delivers ninth successive year of growth, and restructures for digital in 2012
Cambridge University Press has reported its ninth successive year of growth in its annual report for the year to 30 April 2011, despite it being the most testing year in a decade due to the economic difficulties being faced by key markets.
The Press’s Annual Report shows that sales of books and journals increased by 12 per cent to £224.9 million, and that overall revenues have grown by 11 per cent, to £237.3 million.
Cambridge Learning, comprising the Press’s ELT and Education publishing groups exceeded the previous year’s income by 10% and reached £112.9 million in turnover; Academic and Professional had its most successful year this century, with global book revenues rising by 13% to £77 million; and the Journals business generated over £35 million in global sales revenue, representing a 54% increase over the last four years.
The results have been published as the Press 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 Press 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 the Press’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. Michael will also take on management responsibility for North America, the two Latin America branches and the Iberia branch (with its new director Angus Oliver). Michael 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.
Chief Executive Stephen Bourne said: “We have achieved some great results during what has been the most testing year for a decade, and I would like to express my sincere thanks to all our 2,000 members of staff around the world who have all contributed towards this success.
“However, publishing is now undergoing its most profound period of upheaval since our organisation was founded, driven in large part by the power and ubiquity of digital communications throughout the worlds of research and learning. These changes are affecting what our users need and expect, and they are breaking down the barriers between markets.
“We have already responded with the development of an outstanding first generation of digital products and services, including Cambridge Books Online, Cambridge Journals Online and Touchstone Blended Learning. If we are to be true to our purpose, we must continue to increase the positive impact the Press has in this rapidly shifting world. That will require new forms of content and services for our customers, new technology and new ways of operating.”
Notes to Editors:
To view the Annual Report and Performance Summary for 2011, please go to: www.cambridge.org/annualreport
About Cambridge University Press
Cambridge University Press dates is the publishing business of the University of Cambridge. Dedicated to excellence, its purpose is to further the University's objective of advancing knowledge, education, learning, and research.
Its extensive peer-reviewed publishing lists comprise 36,000 titles covering academic research and professional development, 280 research journals, school-level education, English language teaching and bible publishing.