Taylor & Francis revenues up 4.3% in 'strong trading performance'

Taylor & Francis revenues are up 4.3% for 2023 to £619m, with adjusted operating profit up 4.4% to £217.9m. 

The results from parent company Informa cover the year to 31st December 2023. Overall Informa saw revenues increase to £3,189.6m (2022: £2,262.4m) and adjusted operating profit to £853.8m (2022: £496.3m) “significantly ahead of market guidance set at the start of the year”.  

The report said Informa’s strong results reflected strong trading performances in both B2B Markets (Informa Markets, Informa Connect and Informa Tech) and Academic Markets (Taylor & Francis). 

It said growing Open Research volumes and Pay-to-Publish services at Taylor & Francis “are complementing our underlying strength in traditional Pay-to-Read publishing, driving improving underlying revenue growth, with a step up to 4% targeted in 2024”. 

Informa added: “The market for specialist knowledge remains strong, underpinned by international growth in higher education and professional qualifications, and state-level investment in research and innovation. This is increasing the number of researchers and volume of research output globally, fuelling demand for specialist verification, indexation and distribution services. 

“This plays to the strengths of Taylor & Francis, with its portfolio of specialist publishing brands (Routledge, CRC Press, F1000), and growing portfolio of subject-specific academic content (circa 2,700 journals, 140,000+ annual articles, 170,000+ reference titles). In 2024, this is delivering good momentum as we look to accelerate underlying growth from 3% to 4% this year.”