Reed Elsevier proposed a dividend of
The professional information company posted a pretax profit, at constant currency and excluding acquisitions and disposals, of
Revenue growth was driven by electronic and face-to-face revenues, which partially offset the continuing decline in traditional print revenues. Face-to-face revenue includes conferences and events.
The company said it had continued to transform its business in the first half, adding datasets and analytics, and building out its leading global platforms.
Reed Elsevier completed
It completed 10 small acquisitions for
"Underlying trends in our business continue to be positive as we enter the second half, and we remain confident that we will deliver another year of underlying revenue, profit, and earnings growth in 2014," said Chief Executive
Liberum retained its Buy rating for Reed Elsevier, saying that the company's first half numbers were solid. "While we would not expect significant consensus upgrades, the numbers should reinforce the message that Reed is a 'safe' yet growing defensive name within media," Liberum said.
Shares in Reed Elsevier were trading up 1.6% at
Most Popular Stories
- Hispanic Entrepreneurs Short-changed in Texas
- Washington's 'The Equalizer' Debuts With $35 Million
- Is North Korea's Kim Jong Ill?
- International Coffee Day Means Free Coffee at Dunkin' Donuts, Krispy Kreme, McDonalds
- Pending U.S. Home Sales Slid in August
- Jerry Brown Signs 'Yes Means Yes' Law
- Drunk Driver Rear Ends Jennifer Lopez, Leah Remini's Car
- George Clooney Says 'I Do' For a Second Time
- GoPro Launching Three New Cameras
- Macy's Boosts Holiday Hiring 3.6 Percent