News this week: London-based media group, Reed Elsevier, reported
its interim results for the six months ended 30th June 2012. The
group’s exhibitions organising business, Reed
Exhibitions, reported a significant rise in revenues by 32% year-on-year reaching
£486 million, while the group’s revenue grew by 5% to £3.1 billion. Adjusted
operating profit of Reed Exhibitions was £151 million, a growth of 34% over
last year. Reed Business Information’s
(RBI) revenues increased 1% to £347 million, and recorded an adjusted operating
profit of £63 million – up 19% year-on-year.
According to Reed’s
management, excluding the impact of the biennial show cycling, underlying
revenues for Reed Exhibitions were up 12% compared to last year. The company attributed
the strong revenue growth to the double digit revenue growth experienced in the
U.S. and emerging markets, which excludes biennial cycling effects. Reed
Exhibitions launched about 15 new events in the first half this year.
CEO of Reed Elsevier,
Erik Engstrom, commented, “We have continued to transform our core businesses
through organic development by investing in our digital platforms and
developing and launching new online products and services. We have extended our
position in high growth markets through organic new launches supported by
selective small acquisitions.”
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