By Ben Simmons

Penguin, the international publishing company, today announced its 2011 results reporting sales of £1,062m and operating profit of £113m, representing underlying growth of 1% and 8% respectively.

The company gained share in its three largest markets, the US, UK and Australia, despite very demanding trading conditions and the collapse of two important customers, Borders and the REDgroup. These outstanding results were the product of great publishing across the board at Penguin; continued growth at DK, helped by its unique licensing programme; and a continued emphasis on product and channel profitability.

“This is the most turbulent book market that anyone can remember,” commented Penguin Chairman and CEO John Makinson. “In spite of this, we have increased both our sales and our profits. This remarkable achievement has been driven by excellent publishing around the globe, demonstrated by market share growth in our three biggest markets, and innovation in every aspect of our digital publishing.”

Market share gains: Penguin delivered an outstanding publishing performance across imprints and territories producing market share gains in the UK, US and Australia, its three largest markets. In the US and Australia, both markets were severely impacted by the bankruptcy of Borders and the REDgroup which resulted in the closure of a total of more than 750 stores.

Growth in emerging markets: Penguin built on its substantial position in emerging markets with a 45% investment in Brazil’s leading trade publisher Companhia das Letras, with whom it has an existing Classics publishing programme. In India, where Penguin is the largest trade publisher by some distance, Penguin delivered significant sales growth fuelled by an excellent publishing programme and strength in the direct marketing channel. In 2012 Penguin India celebrates its 25th anniversary with a range of high- profile publishing and marketing events. In China Penguin launched a new English- language publishing programme.

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