News this week: Media group, Reed Elsevier,
reported its interim results for the first nine months ended 30th
September 2012. The group’s exhibitions organising arm, Reed Exhibitions, reported underlying
revenue growth of 15% year-on-year, or 7% excluding biennial cycling. The
company’s shows saw double digit growth in emerging markets outside the U.S.
and Europe.
Reed Exhibitions reported the launch of 20 new shows in the
first nine months of the year with a focus on high growth sectors and
geographies including Brazil, Turkey and China. It expects growth rates in
Europe will continue to be impacted by the uncertain economic environment.
Erik Engstrom, CEO of Reed Elsevier, commented, “In the
first nine months of 2012 we have made good progress in systematically
transforming our business, primarily through organic investment, supplemented
by selective portfolio developments. The macroeconomic environment and its
impact on our customers’ markets remain uncertain, but by focusing on the
fundamentals of our business, we expect to continue to improve the quality of
our earnings.”
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