Reed Elsevier has released its first half 2007 financial results, reporting unchanged revenues at £2,235 million, up 1% to €3,308 million.
Its online information and digital services now account for 45% of the group’s revenues, having recorded 12% growth.
It also announced definitive sale agreements for entire Harcourt Education division for total proceeds of $4.95 billion.
Sir Crispin Davis, Reed Elsevier chief executive officer, said: “We are seeing good momentum across our businesses, particularly with the growing impact of our online solutions strategy. We were pleased to announce sales of our Harcourt Education businesses at prices which recognised the exceptional quality of the Harcourt assets. We have also made good progress in the first half in putting together our plans to further drive cost efficiencies.
“The 2007 first half financial results are encouraging. Market conditions continue to be generally favourable, our strategy is clear, the business well focused, and we are leveraging our resources to good effect. Reed Elsevier is well placed for a strong second half and we are firmly on track to deliver our 2007 goals.”
Related Links
