Wolters Kluwer keeps outlook, Q2 in line
Wednesday 28th July 2010
Dutch publisher Wolters Kluwer has announced a continued recovery of its North American business, while Europe would remain challenging after it reported first-half results in line with forecasts.
Earnings before taxes and amortisation (EBITA), excluding exceptional items, rose two percent to €328m ($423.4m) from a year earlier, confirming an earlier update.
Profit was driven by cost reductions and recovery in its healthcare ad financial units.
Wolters Kluwer publishes professional information in legal, tax, and scientific fields. Its main rivals are Reed Elsevier and Thomson Reuters.
Wolters Kluwer is active in the fiercely competitive legal market, which includes Thomson Reuters' Westlaw products as well as Reed Elsevier's LexisNexis.
The publisher also reiterated its outlook for EBITA margins excluding special items of 20 to 21 percent, driven by a restructuring programme, which is expected to yield €125m in savings this year.
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