News this week: London-listed media
group Reed Elsevier
released an interim management statement for the first quarter of 2013. Although no actual figures were
reported, overall, Reed’s management expects
“2013 to be another year of underlying revenue, profit, and earnings growth”.
Excluding biennial
exhibition cycling and timing, revenue growth rates of the company’s exhibitions
business were maintained at levels similar to the second half of last year, noting
in particular that the U.S., Brazil, Japan and emerging markets performed well
in the quarter, while Europe saw modest growth.
Looking ahead, Reed’s
management expects growth to be good in the U.S. and Japan, but limited in
Europe, while strong in other markets. The company also reduced its revenue
growth forecast for exhibitions business to 5%-6% in 2013 due to the cycling
out of shows.
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