Wolters Kluwer 2012 beats forecasts, sees low earnings growth
AMSTERDAM Feb 20 (Reuters) - Dutch publisher Wolters Kluwer on Wednesday reported slightly better-than-expected results for 2012 and said it expects low single-digit earnings-per-share growth this year.
The firm, whose specialist publications and software are used by doctors, bankers, accountants, and lawyers, also appointed Kevin Entricken as Chief Financial Officer, replacing Boudewijn Beerkens who is joining a Dutch family-owned company.
"We expect conditions in Europe to remain tough in 2013, but we are confident our digital businesses globally will continue to perform well," said Chief Executive Nancy McKinstry in a statement.
"We will focus investments on our leading, high growth positions, while actively pursuing portfolio refinements and operating efficiencies in order to accelerate growth and raise returns."
Earnings before interest, tax and amortization (EBITA), excluding exceptional items, rose 8 percent to 785 million euros from 728 million euros in 2011.
Revenue - of which more than 75 percent now comes from online or electronic products - rose 7 percent to 3.603 billion euros.
Analysts in a poll commissioned by Reuters had expected ordinary EBITA of 771 million euros on revenue of 3.552 billion euros. (Reporting by Sara Webb)
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