Spotted this little report on the City Am? website… looks like Lexis will have to think of something to lift themselves out of the doldrums
The report reveals that Reed as a group is picking up
Publishing and events group Reed Elsevier beat first half forecasts as underlying revenues returned to growth after a torrid few years. The positive results were lifted by a stabilisation in advertising and promotions.
The firm?s exhibitions business ? the world?s largest ? grew nine per cent after benefitting from a series of biennial shows that took place this year but not last.Underlying revenue for the six months rose one per cent to ?2.99bn. Adjusted operating profit fell three per cent at constant currencies to ?758m.
Scientific and academic publishing division Elsevier, which accounted for 42 per cent of the company?s adjusted operating profit, reported two per cent revenue growth and a four per cent increase in profit.
There’s a? but over at Lexis though..
Reed said revenues were flat in its LexisNexis legal publishing business as legal activity slowed and operating profit fell 14 per cent as it continued to invest to regain market share lost to Thomson Reuters? Westlaw.
So Lexis have two issues to deal with and obviously the last 8 months or so of cost cutting still haven’t really improved things. We‘ve noticed via press releases ?a lot of product tweaking and presume therefore price tweaking goes with that.
Are they going have to sell off more to remain in the black?
We can’t imagine that there’s a big “New Idea”? coming anytime soon so we’d guess that that times are going to stay somewhat torrid at Lexis for a while as it fights back against Westlaw Next, Bloomberg, declining revenues and the internal disruptions of outsourcing and downsizing.
City Am Report at??? http://www.cityam.com/news-and-analysis/reed-elsevier-returns-growth-sign-firms-are-loosening-purse-strings
?
