Taylor & Francis revenue and profits decline despite 'strong' performance | The Bookseller

"Revenue at Taylor & Francis fell 4.4% in the six months to 30th June 2021 compared to the same period in 2020, half-year results from parent firm Informa show.

The publisher's revenues fell to £245.2m, down from £256.5m in 2020. Statutory operating profit also decreased 4.5% to £59m, while adjusted operating profit declined 11.5% to £86m, from £97.2m at the same time last year.

However, Informa said there was underlying growth of 3% at the publisher, describing it as a “strong” first half performance “reflecting flexible, customer-led approach and consistent investment, including in Open Research”. It reported “robust subscription renewals, strength in e-books and a full pipeline of Open Research activity” were expected to deliver more than 2% underlying revenue growth in the full year....

It added: “In Open Research, our investment in building a platform of scale and quality, with a broad base of flexible, customer-led offerings for authors, funders and institutions, continues to deliver. This is reflected in the volume of Open Research articles published in the first half, which were up 20% on the same period in 2020.” ..."