Reed Elsevier first-half earnings beat forecasts
LONDON, July 24
LONDON, July 24 (Reuters) - Anglo-Dutch information provider Reed Elsevier said it expected another year of underlying earnings growth after reporting better-than-expected first-half results.
Reed, Europe's largest media company by market cap, reiterated its full-year outlook and said it was also ahead of plan for its share buyback programme.
The group, which provides content and analysis for professionals including doctors, lawyers, scientists and insurers, reported first-half revenue of 2.9 billion pounds ($4.9 billion) and adjusted operating profit of 860 million pounds, in line with forecasts.
Adjusted earnings per share beat expectations, at 27.8 pence compared with a forecast of 27.1 pence. ($1 = 0.5874 British Pounds) (Reporting by Kate Holton; editing by Li-mei Hoang)