ACS Overseas FIrst-Class Annual 2012

Preface This is a book that nearly never happened. Comments from purchasers of previous editions have, I am grateful to acknowledge, in the great majority of cases been strongly positive. It has always been evident, therefore, that the ACS Overseas First-Class Annual is highly valued by many of those most engaged in its specialist subject area. However, the form of consumer feedback that matters most – volume of sales – has not come up to expectations. This left the ACS Committee looking at significant losses and a difficult decision. Had this been any other series, there is no doubt that it would have been decided, reluctantly, to discontinue publication. But it was clear that this would have been extremely disappointing to the Annual’s supporters and the Committee therefore decided to test whether the Annual would maintain its strong but limited market at a significantly higher price. Accordingly, previous purchasers were invited to subscribe in advance to the 2012 Annual at a substantially increased price of £60 compared with £42 in 2011. If sufficient subscriptions were received by the end of May, the 2012 edition would go ahead as usual. If not, the Annual would be discontinued and all advance payments would be refunded. This exercise was no mere formality. I think it is fair to say that the Committee embarked upon it with no clear sense of whether or not the target would be achieved. For my part, as editor I naturally hoped that the target would be met; but if that were not to be the case, I hoped that orders would fall well short. To miss the target by only a small margin would have been the height of frustration. In the event, the target was achieved: not by a large margin, but by enough to demonstrate the strength of readers’ commitment, even at a much higher price. For this support I am, of course, extremely grateful. Advance subscribers’ names are duly listed on page 9 of this edition. A concern that was raised by some subscribers was that the price increase from £42 to £60 might be merely the first of a planned sequence of further substantial increases. I am happy to confirm that this is not so. The price of £60 was agreed on the basis that the Annual should at least break even given the number of subscribers; so provided the current level of sales is broadly maintained, it is not expected that there will need to be further comparable increases in the future. This is not, it should be stressed, a commitment to hold the price at exactly £60. The ACS is no more immune than anyone else from the effects of inflation, and any increase in the costs of book production and distribution will necessarily be reflected in the cover price. And while the ACS sees its publishing activities as a means of disseminating information and research rather than of making profits, it also seeks to avoid losses and it is normal for small adjustments to be made to 5