LONDON--Reed Elsevier PLC (REL.LN), the professional information
company behind the LexisNexis products, Thursday posted a 7.8% drop
in net profit during the half year-end, but increased its interim
dividend, and said it remains on track to deliver on its strategic
and financial priorities.
MAIN FACTS:
-The company recorded net profit attributable to parent
companies' shareholders of 509 million pounds during the half
year-ended June 30, compared with GBP552 million a year
earlier.
-Revenue GBP3.03 billion versus GBP3.05 billion
-Operating profit GBP684 million versus GBP657 million
-Pretax profit GBP626 million versus GBP647 million
-Underlying adjusted operating profit growth +6% to GBP870
million/EUR1,027 million
-Adjusted earnings per share 26.5 pence for Reed Elsevier PLC;
+4% to EUR0.48 for Reed Elsevier NV
-Interim dividend +11% to 6.65 pence for Reed Elsevier PLC; +2%
to EUR0.132 for Reed Elsevier NV
-Earnings per share -6% to 22.0 pence for Reed Elsevier PLC; -9%
to EUR0.42 for Reed Elsevier NV
-Net debt GBP3.3 billion; 2.1x Ebitda pensions and lease
adjusted (1.7x unadjusted)
-GBP300 million of share buybacks completed in H1 2013; further
GBP300 million to be deployed in remainder of 2013
-Reed Elsevier PLC shares in London closed Wednesday at 801.0
pence, valuing the company at GBP9.45 billion.
-Write to Razak Musah Baba at razak.baba@dowjones.com
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