London-based media group, Reed Elsevier, reported its interim results for the six months ended 30th June 2014. The group’s revenues grew by 4% to £2.8 billion (US$4.9 billion), while excluding for biennial exhibition cycling, revenues were up by 3%. Adjusted operating profit in the period was £860 million (US$1.5 billion), a year-on-year increase of 5%.
In the first half of 2014, the exhibitions business generated revenues of £490 million (US$838 million), up 8% year-on-year, including 2% of positive biennial cycling and timing effects. Adjusted operating profit in the six-month period also rose by 8%, amounting to £152 million (US$260 million).
Source: Business Strategies Group Hong Kong – www.bsgasia.com