Boxwood transformed Trader Media’s publishing arm by designing and implementing a new operating model that maximised its profitability in the short term and accelerated its transition to an online-only business.
When a traditional publishing business with sales declining at a rate of 26% per year met the biggest recession since the 1920’s, radical measures were called for. Although TMG were managing the migration to online well, there were issues and inefficiencies in its traditional publishing business which meant that unless costs could be radically reduced, its future was under real threat. A joint Boxwood / TMG team developed and delivered a comprehensive plan which not only ensured the survival of the publishing business, it also fundamentally transformed it. Twelve regional centres were reorganised into three, titles were merged and the core process was changed in just fifteen weeks. Costs were reduced by 53% year on year - with no loss of revenue through the transition. Nine months after project completion, revenue and EBIT had increased by 20%.
“The publishing business has gone from strength to strength – we are driving growth into markets that people were only too ready to write off. We have come a very long way in a very short period of time.”