Office move slashes Faber profits in half

By Francesca Washtell

Updated: 21:52 GMT, 16 December 2023

The publisher of literary greats including WH Auden and James Joyce saw its profits halve last year.

Faber made £1.2 million in the year ending March 2023, down from £2.4 million previously.

Administrative costs rose substantially because the independent publishing house moved offices.

‘Excellent’ year: Administrative costs rose substantially because Faber moved offices

But chief executive Mary Cannam said it had still been an ‘excellent’ year as sales hit £25.4 million – although this was lower than the record £28 million previously.

Faber’s bestselling titles this year have included the Pulitzer Prize-winning Demon Copperhead by Barbara Kingsolver and Booker-shortlisted Small Things Like These by Claire Keegan.

The company has also published works by the Nobel Prize-winning author Kazuo Ishiguro.

Faber was founded in 1929. Poet TS Eliot was an early editor and director at the group.

The company has given inflation-related pay rises to all staff to help with the cost of living crisis.

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Office move slashes Faber profits in half

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