23rd Oct 2014 07:36
LONDON (Alliance News) - Reed Elsevier PLC on Thursday said underlying revenue growth continued in the first nine months of the year, and reaffirmed its outlook for revenue growth in all of its divisions in the full year.
The FTSE 100-listed information company said underlying revenue growth in the first nine months was 4%, with underlying growth in all of its operating divisions. It has maintained its outlook for the full year, with profit and revenue both expected to grow.
The group said underlying revenue in its Scientific, Technical and Medical business was up 2%, with research subscription revenue slightly higher year-on-year and print book revenue declines moderating in the period. It said that while it expects research subscription revenue to continue to rise in the final quarter, the outlook for the print books business remains uncertain.
Revenue growth for its Risk & Business Information arm was up 7%, driven by volume growth and new product roll outs. It expects underlying growth trends for the arm to continue.
Its Legal business posted revenue growth of 1%, with subdued markets in the US and Europe. It said it expects the profitability of the arm in the first half to be continued for the full year.
Exhibition revenue rise 8%, boosted by strong performances in the US and Japan, though held back slightly by a weaker European market. It said it expects revenue growth in the business to continue and be boosted by the positive impact of cycling and timing effects.
Reed Elsevier shares were down 1% to 970 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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