PW: MHC Publishing Group Off to a Good Start

Apr 27, 1998

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MHC Publishing Group Off to a Good Start
-- 4/27/98
Sales in the McGraw-Hill Cos.'s educational and professional publishing group rose 5.8%, to $208.4 million, in the first quarter ended March 31, 1998, and the group's operating loss was cut 6.6%, to $39.7 million. The company warned that while comparisons in future quarters "will be more difficult," the group's good start reflects strong results in both the elhi and college markets. Sales of computer books led an improved performance in the professional publishing group, while the international publishing division had gains in Europe and Latin America, which was somewhat offset by softness in the Canadian and Asia-Pacific markets.
New Asia Book

The company's new Business Week Books imprint, meanwhile, is in the process of speeding to market what it believes is the first title on the current Asian financial crisis. Acquired in February, Asia Falling is scheduled to be published on May 29. The book is being written by Callum Henderson, who works in MMS Standard &Poor's (a MHC subsidiary) Hong Kong office. A first printing of 40,000 copies is planned, and an MHC spokesperson said the release of Asia Falling reflects the new Business Week Books imprint's move to cover a broader range of issues, including topical subjects.
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A version of this article appeared in the 04/27/1998 issue of Publishers Weekly under the headline: