Publishing group, Reed Elsevier has revealed a strong performance for 2005, with the positive results continuing into 2006.
The group has made an encouraging start to the year in all of its business areas. The overall performance in the magazine and information publishing business, however, continues to vary by geography and sector, with strong online revenue momentum a key driver of overall growth.
Commenting on the trading performance of 2006, Jan Hommen, chairman of Reed Elsevier PLC and Reed Elsevier NV, said: “Overall, trading conditions have changed little since our 2005 Preliminary Results announcement on 16 February.”
He continued: “The performance so far this year is in line with our expectations and we continue to target underlying revenue growth of at least 5% and double digit growth in adjusted earnings per share at constant currencies. The individual divisional growth targets announced in February are unchanged.”
Earlier this year, Reed announced year on year increase of 7% in revenues for 2005, with adjusted pre-tax profit up by 9% and earnings per share up by 11% at constant exchange rates (see Reed Elsevier Enjoys 5% Increase In Revenues For 2005).
The publishing group revealed a good performance all of its businesses, with Elsevier, LexisNexis and Reed Business all showing growth in 2005.
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