News this week: London-based media group, Reed Elsevier,
reported its interim results for the six months ended 30th June 2014.
The group’s revenues grew by 4% to £2.8 billion (US$4.9 billion), while
excluding for biennial exhibition cycling, revenues were up by 3%. Adjusted
operating profit in the period was £860 million (US$1.5 billion), a
year-on-year increase of 5%.
In the first half
of 2014, the exhibitions business generated revenues of £490 million (US$838 million),
up 8% year-on-year, including 2% of positive biennial cycling and timing
effects. Adjusted operating profit in the six-month period also rose by 8%,
amounting to £152 million (US$260 million).
Reed’s management
highlighted its operations in the U.S. and Japan as a result of strong demand across
its portfolio of events in the U.S. and strong growth recorded in almost all of
its major Japanese events. In the first half of the year, Reed Exhibitions launched
20 new events and completed two small acquisitions.
This post is excerpted from BSG's weekly e-newsletter
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