Reed Elsevier Says Recovery in Outlook for Operating Margin to Be Gradual
Reed Elsevier Plc, the owner of the LexisNexis database, said “overall trends of the first half” of the year continued in the second and reaffirmed outlook comments from July.
“As previously stated, a modest reduction year-on-year in adjusted operating margin is expected due to a weak revenue environment and increased investment in legal markets,” the London-based company said in a Business Wire statement today. “Any sustained recovery is expected to be gradual and remains dependent on economic conditions.”
Subscription sales in many professional markets are still constrained by “low customer activity levels and budgets,” while advertising and other cyclical markets continued to stabilize, according to the statement.
“In the second half we have continued to sharpen our focus in key markets, through new product development, increased sales and marketing activities, and portfolio realignment,” Chief Executive Officer Erik Engstrom said in the statement.
To contact the reporter on this story: Robert Valpuesta at rvalpuesta@bloomberg.net
To contact the editor responsible for this story: Vidya Root in Paris at vroot@bloomberg.net
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