In his comments at News Corp.'s annual general meeting earlier this month, company chairman Rupert Murdoch predicted that HarperCollins would have another record year of earnings in the fiscal year ended June 30, 2002. HC "made a record profit last year. We expect to do the same again this year," Murdoch said. He further noted that HC "had an unambiguous success last year. We have the highest profit margins, even though I wouldn't say they are high profit margins, in that business." HC had an operating income of $111 million in fiscal 2001 with an operating margin of 10.8%.
In a couple of promotions at HC, Tracey Menzies has been named to the newly created position of senior director, creative services. In her new spot, Menzies will oversee the financial and operational aspects of the creative departments for HC's general books group. To replace Menzies in the advertising department, HC has promoted Rockelle Henderson from associate director of advertising to director of advertising.