Informa (Taylor & Francis etc.): profits up, majority renewing at previous high rates

According to the Informa 2009 Annual Report, the Adjusted Operating Margin (profit) is up to 25.3% in 2009 from 2008’s 23.9%. From Highlights, Summaries, and Outlook: “the majority of subscriptions are renewing in line with previous high rates”. As Executive Director Peter Rigby puts it, “‚ÄĚDuring a period of sustained economic decline across the world, our Publishing assets have performed exceptionally well”. Publishing is now responsible for 72% of that 25.3% operating profit.

When the majority of customers worldwide are reeling from severe cutbacks from the global economic crisis, this is an excellent example of an inelastic market, not at all responsive to customers.