Reed Elsevier sees revenues up

Reed Elsevier, the business information and data company, said the overall improvement in its trading performance seen in the first half of the year has continued into the second half.

The group said underlying revenue for the nine months to the end of September grew by 1%. It added it is on track to deliver adjusted earning per share for the full year "in line with expectations".

Divisional break-down

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Elsevier, its science information arm, has seen underlying growth of 2%, LexisNexis Risk Solution, which, among other activities, provides data to the insurance industry has delivered 4% growth. The legal business, LexisNexis Legal & Professional, is up 1% although with the warning that law firms are "subdued". Reed exhibitions saw revenues decline 1%, although the firm argues this is due to cyclic effect of having less biennial exhibitions in 2011. Reed Business Information delivered growth of 1% with its Totaljobs website growing strongly.

Erik Engstrom, Reed Elsevier's chief executive officer, said the company was doing well despite a difficult macro picture: "The recent uncertainty in the macro-economic environment has had a limited impact on some of our more cyclical businesses with only a marginal effect on our overall results to date."

BS