What Will They Do Without Crispin

Reed released their latest figures yesterday and surprisingly the figures are still looking good for legal.

The UK Telegraph reports:

We’ve just highlighted the relevant legal numbers for you.

We’re pretty sure that some of those suffering law firm partners will be talking to their information managers and asking them to negotiate with Lexis once they see that Lexis has made a 22% increase in profits

If you’d like to see the whole story link to http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/4696949/Science-and-legal-publishing-strong-at-resilient-Reed-Elsevier.html

Science and legal publishing strong at resilient Reed Elsevier
Reed Elsevier, the Anglo-Dutch publishing giant, has resisted the media downturn with strong growth in its scientific, health and legal divisions, but disposals forced pre-tax profits down 24pc in the last year.

information provider LexisNexis enjoyed a 22pc increase in profits. Despite its exposure to advertising, business-to-business division Reed Business Information (RBI) still showed buoyant sales up 9pc to £987m.

Outgoing chief executive Sir Crispin Davis had wanted to dispose of RBI before he leaves the company next month, but bidding did not match the division’s estimated £1bn price tag and the sale was abandoned.

The publisher has already taken measures to reduce the impact of a recession by delivering additional cost savings of £130m by 2011, on top of £175m already planned. It also raised £1.6bn through a bond issue last month

Sir Crispin will step down as chief executive next month to be replaced by Ian Smith, who was previously chief executive of house builder Taylor Woodrow.

Lorna Tilbian, a media analyst at Numis, said she expected science and legal publishing at Reed Elsevier to be more resilient than business-to-business, predicting revenue broadly flat for the coming year.

Also Market Watch have a report if you like your figures with graphs and whizz bang flashing graphics