AMSTERDAM May 8 Dutch publisher Wolters Kluwer
on Wednesday reported flat first-quarter revenue and
stuck to its full-year guidance for low single-digit
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)