E-book sales increased by 11% at Informa's publishing business Taylor & Francis and now represent 12% of its academic book business, with the advent of digital delivery and online marketing described as "transformational over recent years". The group also announced it was to add e-books to its digital delivery platform Taylor & Francis Online, which, launched last year, already gives access to 1,600 academic journals.
Inform reported revenue of £1.28bn in its full-year 2011 results, up £0.5bn on 2010, and adjusted operating profit of £226.2m, up 7.3% on 2011. Subscriptions accounted for 67% of publishing revenues, and 78% of the professional and commercial information division, up from 74% in 2010. It also reported that 74% of its publishing revenues in the last year derived from digital.
In its academic information division, revenue was up £13m to £323.6m in 2011, representing 4.1% in actual growth. Adjusted operating profit was £116.2m, up from £109.3m in 2010. The division represents 25% of the group's revenue, and 35% of the adjusted operating profit. Journal usage was up 18% in 2011. According to the statement: "This highly resilient division . . . has benefited from the strength and quality of the journal and book portfolio which underpins growth in existing markets as well as the increased penetration into emerging markets where demand is growing."
The statement also reported "good progress" in developing regions, including "some larger content deals" in Russia, Asia, and the Middle East, which "supported the growth in the second half".
Its professional and commercial information division, which delivers proprietary content to industries including healthcare, pharmaceutical and telecoms, now accounts for 29% of group revenues, or £370.5m, and 34% of adjusted operating profit, or £114m.
The company has also reported growth of revenue in emerging markets, with 14% of overall group revenues stemming from emerging markets in 2011, up from 12% in 2010. Russia was cited as an area of "specific success" for the company's academic products, with organic growth planned in Brazil following acquisitions in 2011.
Chief executive Peter Rigby described the results as "strong", and said: "Our academic division has again displayed resilience and growth, outperforming expectations. It is encouraging to see both the books and the journals continuing to make significant contributions with good organic growth and more progress in emerging markets. The long standing nature and depth of our client relationships, combined with the quality of our product portfolio are central to the consistent performance of this business."