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'An extraordinarily energetic industry'

2 February 2004

'We operate in a relatively mature market, but book publishing is a surprisingly dynamic enterprise because you have to reinvent your product year after year...

You cannot rely on past successes. If half your sales are from your back catalogue, the other half has to be published afresh. We have to be extremely alert to new trends and fashions and be able to read the market perhaps two or three years in advance because of the lead time...

Book publishing always feels to me an extraordinarily energetic industry. People who join the publishing industry rarely leave."

John Makinson, Penguin CEO