Reed Elsevier Optimistic Despite Impact Of US Slow-Down

Reed Elsevier Optimistic Despite Impact Of US Slow-Down

Anglo-Dutch publishing group Reed Elsevier this morning said that the slowing of the US economy is impacting its business to business operations, although it believes the effects are ‘manageable’. The group said that its science, medical, legal and educational businesses are are largely unaffected by conditions in the US.

Chairman Morris Tabaksblat told the company’s AGM that he expects this year to see significant moves towards Reed’s target of above market revenue growth and double digit earnings growth for 2002 and beyond. Tabaksblat also said that he believes the proposed acquisition of Harcourt General in the US will be given regulatory clearance in the UK and US. The integration of Harcourt will create the world’s largest scientific, technical and medical (STM) publisher.

Reed Elsevier: 020 7222 8420 www.reedelsevier.com

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