News this week: London-based media group, Reed Elsevier,
reported its interim results for the six months ended 30th June 2013.
The group’s revenues grew by 2% to £3.03 billion (US$4.6 billion). While
excluding biennial exhibition cycling, revenues were up by 3%. Adjusted
operating profit in the period was £870 million (US$1.3 billion), a
year-on-year increase of 6%.
The exhibitions business
recorded a moderate growth of 1% year-on-year, amounting to £485 million
(US$738 million). While excluding biennial effect, the exhibitions business
grew 7%. Adjusted operating profit in the six-month period was £151 million
(US$230 million), flat with last year.
In the first six
months of 2013, Reed launched 15 new events, primarily in emerging markets.
According to the company, the U.S., Japan, Brazil and other markets grew well during
the period, with the exception of Europe which saw modest growth.
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