Third quarter growth for Wiley's trade business

<p>John Wiley has reported that revenue for the third quarter (to 31st January) grew by 5% to $427m compared with the same period the previous year, with 7% growth also reported for its trade business. </p><p>Wiley&#39;s professional and trade business saw third quarter revenue grow by 7%, excluding the foreign exchange, to $107m. Sales growth was strong in all regions, especially the US, where the holiday season was solid. Titles including social media books and the &quot;For Dummies&quot; brand &quot;drove&quot; business publishing. For the nine months, global professional and trade revenue of $317m was up 3% over the prior year.<br /> <br /> William J Pesce, president and c.e.o., said: &quot;The P/T business enjoyed a successful holiday season. Higher Education is having a record-setting year, out-performing the market with strong results in all geographic regions and subject categories. Revenue related to WileyPLUS, eBooks, institutional (digital-only) sales and custom publishing, now account for 26% of total Higher Education revenue. In all of our businesses, we are collaborating with several eBook, mobile device and platform partners to provide more access to more content by more customers than at any other time in Wiley&#39;s long history.&quot;<br /> <br /> Scientific, Technical, Medical and Scholarly revenue for the third quarter rose 2% to $228m excluding the favourable foreign exchange. Book revenue declined 3% on a currency neutral and comparable basis, excluding a prior year sales return reserve adjustment of $3m. Third quarter Higher Education revenue also grew 13% to $92m.<br /> <br /> Pesce said he predicted that there would still be full-year revenue growth for each of Wiley&#39;s businesses.</p>