Cancelled exams and closed schools hit sales and profits at textbook publisher

The cancellation of checks and the closure of faculties and stores hit the gross sales and earnings of a textbook publishing corporate, whose merchandise are utilized in colleges around the nation.

Coordination Group Publications has posted a turnover of £36.8m for the twelve months to August 31, 2021, down from the £38.9m it completed throughout the prior 12 months.

The Broughton In Furness-based trade additionally showed its pre-tax earnings dipped from £14.9m to £12.6m over the similar duration.

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CGP was once based in 1995 by way of Richard Parsons and covers a spread of college topics at Key Stages one, two and 3 in addition to GCSEs and A-Levels.

A remark signed off by way of the board mentioned the decline in its turnover was once “driven by a fall in the group’s book sales following the cancellation of exams and the closure of schools and shops in 2021”.

The corporate’s UK turnover fell from £37.9m to £35.6m whilst it rose in the remainder of Europe from £96,407 to £125,770 and from £884,051 to greater than £1m in the remainder of the sector.

The choice of staff additionally higher from 241 to 264.

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