Cambridge University Press (CUP) publishes 50,000 peer-reviewed academic research and professional-development titles, 300 research journals, school-level education, English language teaching and bibles under three main publishing groups: Academic, Cambridge English, and Education. CUP has over 100 offices around the world.
Since 1698, CUP has been governed by ‘Syndics’ (originally known as the 'Curators'), a group of 18 senior academics from the University of Cambridge who represent a wide variety of subjects.
Founded in 1534 by Henry VIII, CUP is the oldest publishing house in the world.
Analysis & Key Developments
Financial
The Cambridge University Press closed fiscal 2014 with little change in comparison to the previous year. Revenues were stable at 263 million GBP in 2014. The operating surplus before tax was 8 million GBP, which was the same the year before. The fiscal year ended 30 April 2014.
According to CEO Peter Phillips, “the market for Academic books has remained hard to predict. Sales in North America recovered well during the course of the year, while library budgets in Europe – which have been resilient over recent years – in their turn came under greater pressure.”
Changes in currency rates also affected financial results, since every major currency in which CUP exchanges has weakened. The majority of currencies decreased by a range of 10 to 20%.
Partnerships
CUP launched a new partnership with Editorial Edinumen, a Spanish-language publisher that brings technology to language instruction in the classroom. CUP also partnered with Knewton, an adaptive learning technology provider, to provide personalized content through the Cambridge Learning Management System.
International
Ninety percent of sales were earned outside the UK. Contributions from the ELT operations increased due to growth markets such as Spain, Latin America, and Asia, where a number of operational changes made the continent a crucial region for current and future growth.
CUP acquired the remaining minority stake in its subsidiary in India, and has new leadership both there and in Japan. CUP has also restructured to build closer relationships between its organizations in Asia and the global publishing teams.
Bestsellers
In India, Click Start became CUP’s second title to achieve sales of over a million copies.
Earlier Developments
Financial
Cambridge University Press reported its 11th successive year of growth with sales of 262 million GBP in the year ending April 30, 2013. Revenue growth accounted for 7%. The operating surplus before tax was 8 million GBP, a significant increase from 2 million GBP in 2012.
Internal organization
In 2013, CUP closed the lastg on-site printing operation, which had been under control of the University since 1583. During 2013, CUP also outsourced US distribution and sold the West Nyack warehouse.
In July 2013, CUP took full ownership of CUP India ahead of the retirement of founding partner and managing director Manas Saikia, who created Foundation Books with his partner Vinod Vasishat in 1985. CUP acquired a 51% stake in the company in 2006, when it became Cambridge University Press India, and increased its shares in 2009.
International
CUP generates nearly 90% of its sales outside the UK. Large growth was achieved in South Africa due to a new school curriculum, as well as in Mexico, China, Turkey and Saudi Arabia.
CUP saw “rapidly growing sales” in India and China.
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