Latest Results
Results for the 12 months ended March 31 2023:
The Group’s revenues grew by 9% compared with the prior year at actual exchange rates and by 2% at constant currency
Operating profit was £42.2m, lower than last year as expected—reflecting our planned investments in technology, editorial and digital capabilities, and including restructuring costs, all designed to position the Group for future growth
Subscriber numbers at The Economist were 1,182,000, in line with last year
Digital subscriptions for The Economist grew by 13%, making up 75% of new starts for the year
Economist Impact revenues grew by 10% despite market headwinds
Economist Impact’s 200+ in-person, virtual and hybrid events delivered record revenues
Economist Intelligence’s revenue grew by 14%, driven by improved sales of new subscriptions and a 95% EIU subscriber retention rate
In its second year, Economist Education expanded its executive-education course offerings and doubled its student enrollment
The Group’s annual greenhouse-gas emissions have reduced 20% since base year 2020
Results for the six months ended September 30th 2022:
Half-year revenues for the Group were £179.3m
Revenues grew £19.7m or 13% compared with the prior year, and by 5% at constant currency
The Group’s half-year operating profit of £20.1m was, as expected, lower than last year, reflecting our planned investment in technology, editorial and digital capabilities
The Economist subscriber volumes have remained flat however retention remains strong, with churn down substantially and now at historically low levels
More and more customers are choosing digital - 52% of subscriptions were digital-only, compared with 45% last year
Economist Impact has performed strongly across both Partnerships and Events with revenues of £53.2m, an increase of 33%. The Events business delivered its flagship ‘International’ event in person
Economist Intelligence revenues increased by 15% to £25.2m driven by its core subscription business and Clearstate, our healthcare offer
Economist Education, though still small, continues to grow and launched a new website in September