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Restructure at Cambridge University Press
15.12.11 | Benedicte Page
Cambridge University Press has reported a ninth successive year of growth in the 12 months to end April 2011, as well as announcing a restructure aimed at making the company "more responsive in the digital environment".
Sales of books and journals were up 12% to £224.9m in the latest set of results, with overall revenues up 11% to £237.3m. Cambridge Learning, made up of the press' ELT and Education publishing groups, was up 10% year on year, at £112.9m in turnover. Academic & Professional had its most successful year for a decade, with global book revenues rising by 13% to £77m. Meanwhile journals generated over £35m in global sales revenue, a 54% increase over the last four years.
CUP's restructure will establish a new global Operations Committee to help the publisher co-ordinate distribution and customer service on a global scale. From January 2012, Richard Fisher will be promoted to managing director of Academic & Professional, with Simon Ross taking on the post of his deputy, while remaining global journals director.
Meanwhile the Cambridge Learning group will be split to focus on the different strategic needs of the ELT and Education publishing groups. The Education Group, led by Hanri Pieterse in Cape Town, will have responsibility for the Africa, Australia and India branches, as well as the International Education unit in Cambridge. The ELT group, headed by Michael Peluse, will take on management responsibility for North America, Latin America branches and the Iberia branch.
Chief executive Stephen Bourne said: "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."
The changes will require "new forms of content and services for our customers, new technology and new ways of operating," he said.