Jan Hommen, Chairman of Reed Elsevier PLC and Reed Elsevier NV, told shareholders at the Reed Elsevier PLC meeting in London recently:   “Our businesses performed well in their markets and saw rapid growth in our online information services and customer workflow solutions. The financial performance was strong, with good organic revenue growth and margin improvement, high cash generation and a further step-up in return on invested capital. We also significantly re-shaped the business portfolio with the successful £2.5 billion/€3.6 billion sale of the Harcourt Education division and subsequent return of the net proceeds to shareholders. In the new financial year we have stepped up the momentum with the announcement of important plans to accelerate growth: first, the planned divestment of the Reed Business Information trade magazines and information businesses to reduce our exposure to advertising markets and their cyclicality; secondly, the agreed £2.1 billion/€2.8 billion acquisition of ChoicePoint Inc. in the fast growing risk information and analytics market; and, thirdly, a major restructuring program to deliver substantial cost savings over and above our regular annual improvements in cost effectiveness.”  Source: Reed Elsevier

BIIA Newsletter May – 2008 Issue