Exclusive: Emerald aims to expand its global footprint

Emerald Group Publishing increased sales and profit last year after winning more work from business schools and developing its e-book service. The firm pushed up sales to £32.76m and pre-tax profit to £7.56m in 2010, compared to £30.60m and £6.63m the previous year. Emerald, which is based in Bingley and publishes management research, supplies many of the world’s top providers of MBAs, such as Chicago Business School and London Business School. It is focussing on the growth markets of India and China as Britain’s coalition Government slashes funding for further and higher education. Last year the firm appointed business managers to work in the Czech Republic, Taiwan and South Africa, five people to work in its office in Delhi and its first senior regional manager outside the UK, after Deanna Wamae joined the Boston office as senior vice president of the Americas. Richard Bevan, chief executive, told the Yorkshire Post that UK spending cuts created a “challenge” but foreign markets made up more than 80 per cent of its sales. “What we have been trying to do is drive our growth out of the emerging markets. I would include Asia-Pacific, Europe, the Middle East and Africa and Latin America – these are the areas where we have driven growth to absorb the cuts going on elsewhere. “We are having to work harder for the growth. We are sufficiently well spread to mitigate issues like (the economic crisis in) Greece.” Emerald has increased its international footprint after winning £37m of funding from Barclays Leveraged Finance three years ago. In its 2010 report, the firm’s directors wrote: “The company intends to continue to launch new products developed in conjunction with customer feedback, acquire titles that fit into the portfolio and expand market share in all areas of the world with particular emphasis on India and China. “Towards this end the company has invested in additional staff to develop and sell the expanded portfolio and in systems to ensure the continuing robust electronic delivery of its products.” Dr Howard, 80 next month, has driven the growth of Emerald since it was founded in 1967 as an offshoot of Bradford University. Today he is the majority shareholder and has a seat on the board of parent company MCB UP Group, which is based at the same Bingley office as Emerald. The businessman spends much of his time involved in philanthropic projects across the region, and is best known as a major donor to Leeds-based Opera North and Yorkshire County Cricket Club. Emerald has more than 4,500 customers around the world including leading universities and business schools, government departments and publicly listed companies. “We have been building our presence overseas,” Mr Bevan said. “The primary areas of growth is our core business which is academic journals and books which we sell to business schools,” Mr Bevan said. “We are online to hit out targets this year. We are looking to grow the top line from last year. “Keith Howard is actively involved but in more of a strategic role and when it comes to major investments. He has developed the company and is passionate about it (but) it is run in a very corporate way with a fully operating board.” MCB UP recorded turnover of £32.79m and pre-tax profit of £7.90m. Work of a philanthropist Opera fan Keith Howard contributed more than £1m towards the renovation of the Howard Assembly Room – re-named in his honour – as part of the revamp of Leeds Grand Theatre as home of Opera North. The room first opened to the public in 1879 as a venue for a variety of cultural events. The opening act was a conjurer. In 1911 the Assembly Room became a cinema, as which it continued until the 1970s, although by that time it screened pornographic films. The entrepreneur also gave £300,000 to Yorkshire County Cricket Club towards the cost of a new museum to showcase key artefacts from its 148-year history.