Financial highlights
revenue (2024: £359.5m)
operating profit (2024: £47.1m)
net cash before lease liabilities (2024: £24.8m)
basic earnings per share (2024: 170.4p)
dividend (2024: 160p)
indicative share value (2024: £31.50)
From the chair
Our subscribers and clients want trustworthy, non-partisan journalism and information services they can use to understand the turbulence around them—whether geopolitical, economic, technological or environmental. Our responsibility as a Group is to ensure that we can continue to provide these actionable insights by pursuing a strategy that delivers long-term, sustainable growth.
While we are not immune as a business to the uncertainty around us, I am glad to report that our ongoing investment in our people, brand and technology is supporting that goal. The Group has delivered another year of strong financial performance while strengthening our platform for future growth—so we can keep explaining the forces and events reshaping the world.
“We believe progress is best enabled by fact-based, independent analysis, and that clarity and rigour are the best antidotes to doubt, disinformation and distrust.”
Lord Paul Deighton
Chair
From the chief executive
Free markets, open societies and individual liberties have been causes espoused by The Economist since 1843. Championing these and other freedoms is central to our purpose as The Economist Group—‘the pursuit of progress'. In different ways, from various directions, the progress we believe in is being obstructed, and the values we hold are being threatened. And this disruption is part of a wider turmoil—in financial markets, in public discourse, in the weather, in what was once called the post-war consensus, and in relations between nuclear states.
It is a complicated world. And it is hazardous.
The Economist Group has two vital, interconnected roles to play. The first is to help people understand and navigate this uncertainty through trusted, independent journalism and information services that help individuals and organisations think and act.
The second role is to stand up for our values.
“The only thing that seems certain at the moment is uncertainty. And in uncertain times, we're needed more than ever.”
Lara Boro
Group chief executive
From the editor-in-chief
Head-spinning. That is how world events feel right now. In three decades as a journalist, I cannot recall a time when so many norms, institutions and policies were simultaneously so dramatically upended. The attacks of 9/11 transformed America’s foreign policy; the global financial crisis ravaged economies and fuelled populism; the covid-19 pandemic brought soaring public debt and eroded public faith in politics. Today’s events are even more consequential. We are witnessing a real-time remaking of global politics, international affairs and the world economy.
“In a world where our principles are increasingly unfashionable, championing them is more important than ever.”
Zanny Minton Beddoes
Editor-in-chief
Business review: The Economist
The Economist offers a simple proposition, increasingly rare in modern media: truly global, fiercely independent journalism. In a fracturing world, we make sense of what matters, with expert reporting and analysis delivered across print, our app, podcasts and more. Big, rapid change can generate confusion. We specialise in clarity.
A year which saw us reach our highest-ever number of subscriptions also saw other records broken. Traffic to The Economist app accelerated to 270m visits, up from 239m. More organisations than ever now have enterprise subscriptions. Revenue continued to grow beyond last year's previous high.
And while an outstanding newsroom will always be the engine of The Economist's success, our growth as a business is also built on the work and investment we've put into reaching, engaging and delighting our audiences in new and better ways.
subscriptions
revenue at constant currency
of new subscriptions digital-only
Business review: Economist Impact
Economist Impact helps organisations achieve strategic influence and reputational leadership. We combine access to a premium global audience with targeted advertising, credible branded content, industry-leading events and evidence-based insights— enabling clients to engage stakeholders, elevate messaging on critical issues and deliver measurable outcomes in brand perception, awareness and policy impact.
Economist Impact was set up to offer a holistic suite of services, integrating outstanding policy research, multimedia content, advertising and events, all leveraging the Group's powerful brand and reach.
Our business weathered some headwinds in 2025, but came through them to deliver resilient results—and build a platform for future growth.
revenue
share of sales from integrated business
clients
Economist Impact Events: Innovation, insight–and momentum.
We've become trusted leaders in our field, blending innovation and insight with a track record of excellent delivery to targeted audiences. The result is another year of record revenue and strong margins.
events
attendees
sponsors
Business review: Economist Intelligence
Economist Intelligence operates at the intersection of macroeconomic and geopolitics, delivering data-led analysis, forecasts and indices that empower clients to make strategic decisions with confidence and credibility in a rapidly evolving world.
More customers than ever are seeking out our EIU and Corporate Network products. Our rigorous focus on high-quality annual recurring revenues has meant that our overall revenues have increased by 5% this year, net retention is high at 91%, and our geographic reach has grown, with greater penetration in key markets such as America and India.
revenue
revenue at constant currency
retention rate in EIU subscriptions
Business review: Economist Education
Executives need well-honed thinking and communication skills now more than ever.
Economist Education helps modern leaders and organisations thrive amid disruption, equipping them with skills from communication to critical thinking to influence. This year we redoubled our focus on enterprise clients—and AI.
course presentations
students
countries
Sustainability at The Economist Group
Our evidence-based journalism and information services help audiences address the systemic environmental and social challenges facing the world. At the same time, we pursue progress for our colleagues and communities, and the environment.
reduction in annual greenhouse-gas emissions since base year 2020, while growing our business
electricity sourced through renewable Energy Attribute Certificates
of our global top pay quartile are women
“Our Group business strategy is built around generating sustainable growth so we can keep championing progress through insight and analysis long into the future. That means maintaining a responsible approach to managing our impacts on society and the environment.”
Oscar Grut
Chief legal officer, Group company secretary, head of ESG
From the chief financial officer
Strong financial performance and a platform for future growth.
Revenue of £368.5m for the continuing business was up 2% on the prior year. The weaker US dollar and other currencies to sterling exchange rate compared with the prior year reduced revenue by £5.8m, and so, on a constant-currency basis, revenue increased by 4%. Last year’s reporting period included an additional week of trading; underlying revenue, adjusting for this factor, was up 5%.
Operating profit of £48.1m was 2% higher than the prior year and 11% higher at constant currency. Operating expenses increased due to ongoing investments in technology and editorial, higher brand marketing spend for The Economist, and restructuring and go-to-market costs related to combining the Group’s B2B businesses from the start of the new financial year.
“Operating profit of £48.1m was 2% higher than the prior year and 11% higher at constant currency.”
Marcus Roy
Group chief financial officer
Governance
The Economist Group provides independent, fact-based insights, without fear or favour. We aim to take the same approach to conducting our corporate governance and to reporting to shareholders and other stakeholders. Our duty as a Board is to support The Economist Group through robust governance that reflects our values and advances our purpose: the pursuit of progress.
Paul Deighton
Chair
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