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Oxford University Press underlines commitment to research, learning, and responsible publishing, amid disruption in core markets.
Photograph: Supplied by OUP.
Oxford University Press (OUP) has released its 2024/25 Annual Report, reporting a turnover of £796m, and a surplus from trading of £75m. The reported figures exclude £11m of sales which were supplied early to customers in preparation for the transfer to a new enterprise resource planning (ERP) system and which were recorded in the 2023/24 figures. On an adjusted basis, turnover was £806m, an underlying 2% down on prior year and surplus from trading was £83m.
The publisher says there were a number of market challenges that affected trading, including a further decline in the UK schools business due to market funding constraints and a higher rate of decline in print format sales of academic and higher education books. However, OUP continued to invest to incorporate new technologies and expand its products and services to improve learning and research outcomes.
It introduced AI-enabled tools including the Oxford Revise Exam Tutor for UK students and natural language AI search assistants for users of the Oxford English Dictionary and Oxford Academic platform. Engagement across its core digital platforms also grew; the Oxford English Hub—the primary online platform for teaching and learning English—saw an 80% increase in users, while three million more people visited Oxford Academic than during the previous year.
In its growing assessment business, OUP launched the Oxford Test of English Advanced, allowing English language learners to demonstrate their fluency at B2 to C1 levels of the Common European Framework of Reference (CEFR).
Elsewhere, the first topics—AI in Society and Racism by Context—were published in a new online series of original, interdisciplinary research, Oxford Intersections. The series brings together cutting-edge research to address tangible, real-world challenges. Access to quality educational materials also remained critical, with the Essential series in Pakistan created to be available at a lower price point to widen access.
Alongside its core publishing activities, OUP pledged to achieve Net Zero by 2050 and continued to support global communities through charitable giving. It donated more than 261,000 books worldwide through its long-standing charity partner, Book Aid International, while OUP colleagues recorded a total of 900 hours of volunteering.
Nigel Portwood, CEO, said: “Although a number of material factors hampered our financial progress this year, we still had much to celebrate. Each of our publishing divisions recorded an increase in digital turnover. We also extended our commitment to operating sustainably and responsibly, and launched several new products and updated editions of flagship titles that all contributed towards us fulfilling our mission.”
Read the full report and highlights on the OUP website.
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