News this week: Last week, London-listed Reed Elsevier reported its financial results for the year ended 31st December 2011. Reed Elsevier reported underlying revenue growth of 2% from 2010 to £2,058 million, while Reed Exhibitions’ revenues were £707 million, flat compared with 2010. However, when excluding biennial cycling exhibitions, a 10% growth was recorded. Adjusted operating profit at Reed Elsevier was up 4% to £768 million and Reed Exhibitions’ was £167 million, up 2%.
Excluding biennial cycling exhibitions, Reed Exhibitions reported revenues from North America grew 16%, Europe up 6%, while the rest of world increased by 13%. The company reported particularly strong growth in China, Brazil, Russia and the Middle East. In 2011, Reed Exhibitions launched 43 new shows and completed five acquisitions to increase its presence in faster growing sectors and geographies.
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