Reed Elsevier Defy Downturn

Some good news .. maybe this’ll mean that they won’t be increasing your Lexis Nexis subscriptions in 2009.. we wouldn’t bet on it though…

The Guardian Newspaper (UK) writes on publication of Reed’s latest figures and forecasts


Reed Elsevier defies downturn with positive revenue forecast
Caitlin Fitzsimmons

Reed Elsevier is set to meet its goal of £15m in cost savings in 2008 as well as improved revenue, the publisher revealed in a trading update today.

The company, which has a range of business-to-business magazines, websites and exhibitions in the science, medical, business and legal sectors, told investors it was well placed to defy the gloomy economic outlook.

Reed Elsevier chief executive Crispin Davis said: "The business is on track for a very successful year and we expect to deliver Reed Elsevier’s strongest constant currency earnings growth in over a decade.

"Whilst the economic environment is undoubtedly challenging, our businesses are more resilient than most and we are in a strong financial position."

Reed Elsevier announced a major restructuring programme in February 2008 and the publisher said today this was "progressing well". The company aims to build up to £100m in annual savings by 2011.


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