Interesting little piece in The Bookseller…
Although Kluwer’s profits not as healthy as this time last year ( still healthier than the Reed figures that have just come in) the Bookseller has noticed that the company’s book sales are up… Ok we can’t define how this relates to legal titles specifically but it is interesting to note that generally across the board at Kluwer hard copy sales are up
This is what the Bookseller has to say…
Book sales still rising at Wolters Kluwer
30.07.09 Katie Allen
Global information services and publishing company Wolters Kluwer has reported a revenue growth in book sales in its half year results to 30th June. Book sales, which make up 9% of the company?s revenue, rose ?141m to ?149m, with an organic growth of 1%.
The company reported an overall revenue boost of 2% at constant currencies. To the six months ended 30th June, revenue was ?1,720m, a rise of 7% from ?1,608m, with electronic revenue boosted from a percentage of 50% to 52%.
Earnings before Interest, Taxes, Depreciation, and Amortization (EITDA) were ?320m (a rise from ?288m last year), bringing in a net income of ?203m (a raise of 14% from last year, at ?178m).
However organic revenue declined 3%. The company also saw non-cyclical products and subscription sales drop 1% due to recessionary market conditions. Underlying transactional product revenues, which make up 27% of total half-year revenues, declined 8% and advertising and promotional revenue also saw a 13% tumble. Other cylical products saw a dip of 10%.
Nancy McKinstry, c.e.o. and chairman of the executive board, said “We are pleased to deliver solid profitability and cash flow in the first half of 2009. The performance over the first half demonstrates that the stable subscription base and growing online and software portfolio is serving Wolters Kluwer well. With a continued focus on operational excellence and a commitment to invest 8-10% of revenues in the business, we have the foundation in place to support long-term growth.”
http://www.thebookseller.com/news/92911-book-sales-still-rising-at-wolters-kluwer.html
