Results

The Group’s revenue of £367.0m was down 3% compared with the prior year at actual exchange rates and was flat at constant currency

Operating profit was £47.4m, 12% higher than the prior year and 14% higher at constant currency. Operating expenses declined and a more stable US dollar exchange rate reduced the charge from foreign exchange

Subscriber numbers at The Economist were 1,220,000, a 3% increase over last year

Digital subscriptions for The Economist grew by 13%, accounting for 86% of new starts for the year

Economist Impact revenues decreased by 16% due to challenging market conditions which affected advertising and research sales

Economist Impact's 136 in-person, virtual and hybrid events attracted 35,000 attendees and 571 client sponsorships, delivering margin growth for a third consecutive year

Economist Intelligence’s revenue decreased by 3% at actual exchange rates but increased by 1% at constant currency. EIU subscription revenues increased strongly and were partially offset by a reduction in consulting revenue from Clearstate

In its third year, Economist Education further expanded its executive-education course offerings and saw enrollment increase to over 2000 students from more than 100 countries

The Group’s annual greenhouse-gas emissions have decreased 30% since base year 2020

Half-year revenue for the Group was £178.7m

Revenue was in line with the prior year at actual exchange rates and grew by 1% at constant currency

The Group’s half-year operating profit of £23.5m was an increase of 17% on the first half of the year. This is in line with the prior year on an underlying basis

The Economist subscriber volumes remained steady at 1.158m 

More people choose digital than ever before, with 61% of Economist subscriptions digital-only compared with 56% in the prior period 

Economist Impact’s revenue fell this half-year, reflecting last year’s decline in sales of new business. This was partially offset by the fact that the Economist Impact Events business has performed well

Economist Impact’s EuroFinance International Event in Barcelona generated record revenues with over 2,200 attendees and 100 sponsors and exhibitors

Economist Intelligence has seen revenues fall slightly, reflecting a dip in sales for its Clearstate medtech business

Economist Education continued to grow its offer with its new Data storytelling and visualisation course