News this week: This week media group, Reed Elsevier, reported its interim results for the six months ended 30th June 2011. The group’s exhibitions organising arm, Reed Exhibitions, reported revenues down 4% year-on-year at £368 million. Adjusted operating profits were £113 million, down 8% compared to last year. Reed Business Information’s (RBI) revenues dropped 8% to £344 million, while RBI’s adjusted operating profits were up 33% to £53 million.
The company’s management reported that excluding the impact of biennial show cycling, underlying revenues for Reed Exhibitions were up 10% compared to last year. Reed Exhibitions also has plans to launch more than 40 new events this year – and 18 of those were launched in the first half. Of the 35 new shows launched in 2010, management expects 25 will continue to run.
China, Brazil, Russia and the Middle East were highlighted by management as strong performers. In China, the company noted that the Sino Corrugated Shanghai packaging show has performed well.
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