Reed momentum continues in first quarter

Publishing and events group Reed Elsevier reported that good momentum has continued through the first quarter and that growth was in line with last year.

Publishing and events group Reed Elsevier reported that good momentum has continued through the first quarter and that growth was in line with last year.

The group's dominant scientific, technical and medical arm is on track to deliver another year of 'modest' growth, but the legal arm, second largest by revenue in 2012, sees limited scope for growth with customer markets subdued.

Good growth is expected in both risk solutions and business information units, although some uncertainty continues to dog the former.

The exhibitions division, the smallest by sales in 2012, is in a cycling-out year with fewer biennial shows so despite 5-6% lower revenues, good growth is expect in US and Japan to compensate for a weak Europe.

Reed stated that it continued to make good progress on its strategy to transform the business into a "professional information solutions provider" and to improve the quality of earnings through organic development, with the portfolio also continuing to evolve through several acquisitions and disposals already so far in the three months to the end of March.

With cash generation strong, so far £181m of the promised £400m of share buybacks have been completed, with balance sheet further improved with the replacement of high coupon debt with a new bond issue.

OH

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021