Wolters Kluwer says Q1 revenue flat, sticks to FY targets
AMSTERDAM May 8 (Reuters) - Dutch publisher Wolters Kluwer on Wednesday reported flat first-quarter revenue and stuck to its full-year guidance for low single-digit earnings-per-share growth.
Wolters Kluwer competes with Reed Elsevier and Reuters' owner Thomson Reuters , selling specialist publications and software to bankers, lawyers, accountants, doctors and scientists.
"Our leading, growing businesses all achieved good to strong organic revenue growth in the quarter," Nancy McKinstry, chief executive, said in a statement, adding, "We are confident in delivering our guidance for the full year."
The firm has targeted ordinary earnings before interest, tax and amortisation (EBITA) margin of 21.5 to 22.0 percent, free cash flow of 475 million euros or more, and a return on invested capital of 8 percent or more.
Wolters Kluwer said it has raised about 90 million euros from divestments, and spent about 100 million euros on acquisitions so far this year. (Reporting by Sara Webb, editing by Gilbert Kreijger)