Sales, Earnings Up at Taylor & Francis

[Ann Okerson <aokerson@pantheon.yale.edu>]

According to Publishers Weekly, March 31, 2003, p. 12:

Pretax profits at UK-based Taylor & Francis rose 23% to 32.9 million
pounds ($52 million) last year,on a revenue increase of 7.3%, to 147.4
million pounds ($230 million).  The company's journal division had the
largst growth in 2002 with sales up 11.4%, to 71 million pounds, while
sales in the book group rose 3.8% to 76.4 million pounds.  Growth was
driven almost entirely by internal initiatives as T&F's lone acquistion in
2002 was the 2.9 million pound purchase of Fitzroy Dearborn.  With book
sales to instituitonal marekts slowing in the US last year, T&F cut its US
work force, and this year the company executives said T&F plans to stop
publishing in "peripheral areas" while expanding its presence in core
subjects such as medicine, nursing, and psychology. The company released a
total of 2,193 new titles in 2002, up from 1,788 in 2001.

Growth in journal revenue was helped by the publication of 24 new
journals, and T&F plans to publish 27 new titles this year.  Online
subscriptions in 2002 rose to 70% of its instituitonal subscribers from
50% in the previous year. Sales of e-books ocntriubted sales of about
400,000 pounds, mainly from the library market.

Sales to North America rose 2.5%, to 62.2 million pounds, last year and
accounted for 42% of T&F's total revenues.

Despite softer conditions in the US, T&F said it expects an increase in
sales next year driven by its recent purchase of CRC Press. And executives
said the company is "well-positioned" to make another acquistion in the
professional and academic market this year if the opportunity arises.  
Byline:  Jim Milliot.

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