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OUP defies challenging conditions to deliver growth

OUP defies challenging conditions to deliver growth

06 July 2016

Today Oxford University Press released its 2015/2016 Annual Report, confirming headline growth of 1.7% and turnover of £781m. Strong performances in journals and education markets, accelerating digital sales, and successful technology partnerships helped to counterbalance generally challenging market conditions.

Nigel Portwood, CEO said, “Our overall business in emerging markets returned to growth, but we found the going tougher than expected in many areas―for example in Brazil, the Middle East, Poland, and South Africa. Our academic books business also faced challenges from accelerating changes to library purchasing patterns.”

Several important transactions were designed to contribute to OUP’s future success. The acquisitions of Epigeum (online courses for professional skills in tertiary education) and bab.la (online dictionaries) support the Press’s academic ambitions, while Oxford International AQA Examinations was launched in partnership with AQA, establishing a new international qualifications business—international GCSEs, AS, and A-levels will be taught in in the Middle East from September. Additionally, OUP deepened its relationship with Emerge Education, providing access to EdTech entrepreneurs and new business models.

The Press enjoyed success in China, India, Pakistan, and also in the curriculum reforms in Spain and UK Secondary schools.

Digital sales grew, and while digital revenue continues to be weighted towards the Press’s academic business, education markets are now seeing growth in this area, particularly in Asia.

Nigel Portwood continued, “Despite the many challenges of last year, we have great confidence that our strategies in our three core markets of Research, the Learning of English, and Education position us for future success.”

You can find the full report here.