Reed Elsevier On Target For Double-Digit Earnings

Anglo-Dutch publishing group, Reed Elsevier, said yesterday that it is on track to deliver double-digit earnings for the full year 2002 and expects to achieve the same in 2003.

The positive trading statement comes despite very tough market conditions, particularly in the business-to business publishing sector. Business publishing accounts for 27% of Reed’s revenues and the company says that there are still no signs of a recovery in B2B advertising levels.

Shares in Reed Elsevier were up by 5p at 540p yesterday, following the release of the statement.