Wiley sees 4% annual revenue growth

Wiley sees 4% annual revenue growth

Wiley saw revenue growth of 4% for the 12 months to end of April 2015, according to its latest financial results.

For the fiscal year, Wiley saw revenue of $1,822m, a rise of 4% from $1,775m taken across 2014. For the fourth quarter of the 2015, revenue stood at $442m, up 2% from the same period last year on a constant currency basis.

Revenue from digital products and services reached a high of 60% of total revenues, up from 55% in 2014. The percentage of revenue generated by print books fell to just 25% of the company's overall turnover.

President and c.e.o. Mark Allin, who took over the role this month after the retirement of Steve Smith said that the company had reached its targets. He said: "We are pleased to report that we delivered on our revenue and earnings guidance for the year. On a constant currency basis, our largest and most profitable business, Research journals delivered 4% revenue growth for the year. Our strategic digital solutions businesses also contributed to our growth, with digital products and services rising to 60% of revenues for the full year. Revenue growth, the continued shift to digital, and additional savings from restructuring all contributed to 9% operating income growth for the year."

Looking ahead to 2016, Hoboken, New Jesery-based Wiley said the outlook was for low single-digit revenue growth.