Taylor & Francis "best ever" results

<p>Academic publisher Taylor &amp; Francis has recorded its &quot;best ever&quot; financial results, according to parent company Informa, which announced overall profit growth of 17% this morning (4th March).</p><p>Publishing, which now accounts for 50% of the Informa&#39;s revenues and 57% of its profit, was described as &quot;the most stable part of our group&quot;, having delivered &quot;another excellent set of results&quot; for the 2008 calandar year. The group also revealed that 70% of publishing revenue was delivered in electronic format.</p><p>T&amp;F grew revenue by 14%, compared with 13% for the whole group, having published 24% more journals than the previous year and selling 5.4m books across 175 countries. Revenues in e-books increased 30%. As a result of 98% renewal rates, and the high proportion of revenue generated in dollars, Informa said &quot;the forward visibility of T &amp; F&#39;s earnings gives significant confidence to the overall outlook for 2009&quot;.</p> <p class="c3">Overall, Informa&#39;s revenue for the year ended 31st December 2008 increased by 13% to &pound;1,278m with adjusted operating profit up by 17% to &pound;305.8m. Adjusted profit before taxation increased by 15% to &pound;233.4m. But the group&#39;s profit before taxation decreased to &pound;108.9m. This came after restructuring costs for the year of &pound;17.4m, &pound;9.7m higher than those in 2007, which included reorganisation costs of &pound;3.2m, and redundancy costs of &pound;9.9m. The company said these &quot;largely reflect[ed] the response of the businesses to changing market conditions&quot;. </p><p>&nbsp;</p>