Last week, the Oxford University Press (OUP) reported an impressive 11 percent headline growth, with a £847.4 million turnover, and a trading surplus headline growth of 24 percent.
The company said it had seen “good underlying growth” in both its academic and educational businesses. The academic division increased turnover by 2.4 percent, the result of good performance from journals and other online products which increased in usage by 12 and 9 percent respectively. Overall turnover in the education division also increased by 3.7 percent.
OUP reported that Asia, Africa and the UK were key regional drivers of growth while emerging markets also served as a healthy region for growth. Overall, the company reported a return to double-digit growth of 11 percent in emerging markets, achieving particularly highly in India and China.
Nigel Portwood, OUP 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.”
“We have had a good year right across the business, despite challenging market conditions”
In addition to growth, OUP has continued its focus on digital innovation. In its annual report, the company, which sells its resources in 190 countries in 102 languages and trained 356,000 teachers this year, highlighted several of its digital initiatives. These include Oxford Dictionaries API, which gives developers around the world access to translations and audio pronunciations, and TeachCast, a partnership using trucks as mobile classrooms in rural Indonesia.
Portwood added: “As a part of the University of Oxford, we seek to further educational and academic progress throughout the world. Every year we reach more people, helping them to achieve their educational and research goals.”