Publisher Reed Elsevier, Netherlands, has reportedly posted better than expected first-half results after seeing a renewal in subscriptions to its scientific and health publications. The company's pre-tax profit rose 6 percent to £662 million compared with a year ago, but revenues fell 3 percent to £2.9 billion.
While the company's operating margin increased, underlying revenues showed a marginal 1 percent growth as the company said that most of its cyclical businesses were recovering.
Academic journal publishing division, Elsevier, which makes 44 percent of the group's operating profit, saw a 4 percent underlying profit growth. The group's LexisNexis Risk Solutions business intelligence arm had 6 percent profit growth.
The company's exhibition business showed a 10 percent underlying revenue growth once the effect of events held only every second year was stripped out. The division's operating profit fell 8 percent.
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