Reed Elsevier: 1Q Growth Rates Consistent With 2011, On Track For Growth
04/24/2012| 02:33am US/Eastern
Reed Elsevier (>> Reed Elsevier plc), the professional information company, said Tuesday that underlying growth rates in the first quarter were consistent with the 2011 full year trends, adding that 2012 is on track to be another year of underlying revenue and profit growth amid organic investment and portfolio adjustment.
-Portfolio development continued during the period, with acquisitions of complementary online subscription services and exhibitions in emerging markets, and divestment of a number of advertising-based businesses and certain print products.
-Reed Elsevier's financial position remains strong with good cash generation.
-Shares closed Monday at 515.5 pence valuing the company at GBP6.28 billion.
-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; firstname.lastname@example.org