Informa’s academic division up 6% in first half

Informa’s academic division up 6% in first half

Taylor and Francis’ parent company Informa saw revenue growth in its academic division of 6.1%, up to £154m, in the half-year to 30th June 2012.

The company reported "good growth" this year in Japan, South Korea and China, with almost 13% of the academic division's revenues currently coming from emerging markets.

Digital accounts for 13% of the academic division's total book revenue, with just over half of the division's back catalogue of 60,000 titles now available electronically. The academic division accounted for 25% of the group's revenue and 32% of the adjusted operating profit.

Reporting its results, the company also said it "broadly welcomed" the Finch Report into Open Access in the UK. "Whilst we foresee little short to medium term impact on our business we will continue to adapt our approach as required,” it added.

The academic growth came against a background of a 2.4% drop in revenue overall in the first half, down from £634.8m over the same period in 2011 to £619.6m, with earnings before interest, taxes, depreciation and amortisation (EBITDA) up to £172.7m from £170.4m on 2011. Operating profit fell from £87.9m to £11m, with adjusted operating profit showing a slight increase, from £159.1m to £160.1m.

Informa’s professional and commercial information division accounted for 28% of the group's revenue over the period, at £173.3m, and 34% of the adjusted operating profit, at £54m. This represented a revenue drop of 4.5%, and a 2.7% growth in adjusted operating profit. Overall in the PCI division, 80% of revenue comes from subscriptions and 89% is delivered electronically.   

Chief executive Peter Rigby said the company had made a "solid start" to the year, and said: "Global economic conditions show no signs of sustained improvement. We have become used to operating in this environment and are actively managing the portfolio to concentrate on our areas of strategic focus. The business is in better shape as a result and we are well positioned for growth when an economic recovery occurs."

The company earned 20% of its revenue from emerging markets, up from 19% on the same period in 2011.