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| ==Business Growth== | ==Business Growth== | ||
| - | Increased spend on product development and sales & marketing was largely offset by cost efficiency gains. | + | In 2010, Reed Elsevier's revenues were flat at £6,055 million.<ref name=ceo>[http://reports.reedelsevier.com/ar10/overview/chief_executive_officers_report.htm Reed Elsevier Investor Relations: Chief Executive Officer's Report]</ref> The company's adjusted operating profit was lower by 1% at £1,555 million, with adjusted earnings per share down 5% to 43.4 pence.<ref name=ceo/> Overall, the company's spend on product development and sales and marketing was offset by cost reductions.<ref name=ceo/> |
| - | Within Reed Business Information, we reshaped the portfolio, significantly reduced costs, and invested behind the successful data services business, including in early January this year the acquisition of a majority share in the leading petrochemical and energy information service CBI China. | + | |
| - | Total revenues were flat at £6,055m | + | Revenue from LexisNexis grew during the year, with strong growth in the risk business. However, subscription revenues in the legal business continued to reflect the lower levels of law firm activity and employment.<ref name=ceo/> |
| - | Adjusted operating profit was lower by 1% at £1,555m | + | In the risk solutions business, strong growth in the insurance business was supported by high transactional activity in the U.S. auto and property markets.<ref name=ceo/> A continuous pipeline of new data and analytics products also drives growth, ranging from helping insurers better assess underwriting risk to reducing cost and improving the effectiveness of the insurers’ workflow.<ref name=ceo/> |
| - | Adjusted earnings per share were down 5% to 43.4p for Reed Elsevier PLC, 1% lower at €0.78 for Reed Elsevier NV, and 6% lower at constant currencies | + | Reed Exhibitions saw revenue growth from biennial exhibitions and a moderated decline in annual show revenues. The 2010 shows have had growing attendance at the majority of annual events and exhibitor numbers up 4% in the top 50 annual shows.<ref name=ceo/> Shows in China, Russia, the Middle East and Brazil, in particular, grew strongly. |
| - | In February 2011, the Company acquired Shanghai Datong Medical Information Technology Co., Ltd.<ref name=reuters/> | + | Reed Business Information saw growth in data services and online marketing solutions and moderated declines in advertising markets. The sale and closure of the U.S. controlled circulation magazines and certain other titles were completed, together with the sale of clusters of titles in Europe and Asia.<ref name=ceo/> |
| - | LexisNexis (38% of adjusted operating profit) returned to overall revenue growth, with strong growth in the risk business. Subscription revenues in the legal business continued to reflect the lower levels of law firm activity and employment. | + | ===Acquisitions=== |
| - | + | In 2010 Reed Business Information acquired a majority share in the leading petrochemical and energy information service, CBI China.<ref name=ceo/> In February 2011, the company acquired Shanghai Datong Medical Information Technology Co., Ltd.<ref name=reuters/> | |
| - | In the risk solutions business, strong growth in the insurance business is supported by high transactional activity in the US auto and property markets. A continuous pipeline of new data and analytics products also drives growth, ranging from helping insurers better assess underwriting risk to reducing cost and improving the effectiveness of the insurers’ workflow, from initial potential customer contact to policy renewal. | + | |
| - | + | ||
| - | Reed Exhibitions (10% of adjusted operating profit) saw good revenue growth with the net cycling in of biennial exhibitions and a significantly moderated decline in annual show revenues. The 2010 shows have seen overall success, with growing attendances at the majority of annual events and exhibitor numbers up 4% in the top 50 annual shows. While recovery in the larger markets has taken longer to materialise, by contrast, the shows in China, Russia, the Middle East and Brazil grew strongly. | + | |
| - | + | ||
| - | Reed Business Information (6% of adjusted operating profit) saw good growth in data services and online marketing solutions and significantly moderated declines in advertising markets. The portfolio was significantly reshaped and refocused. The sale and closure of the US controlled circulation magazines and certain other titles were completed, together with the sale of clusters of titles in Europe and Asia | + | |
| ==Trends and Forces== | ==Trends and Forces== | ||
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| *[[Lee Enterprises (LEE)]] | *[[Lee Enterprises (LEE)]] | ||
| *[[Educational Development (EDUC)]] | *[[Educational Development (EDUC)]] | ||
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| ==References== | ==References== | ||
Revision as of 17:43, July 10, 2011
Reed Elsevier PLC (NYSE: RUK) is a publisher and information provider. The company operates in four segments: Elsevier, comprising scientific, technical and medical publishing; LexisNexis, providing legal, tax, regulatory, risk information and analytics, and business information solutions to professional, business and government customers; Reed Exhibitions, organizing trade exhibitions and conferences; and Reed Business Information, providing information and marketing solutions to business professionals.[1]
Contents |
Business Growth
In 2010, Reed Elsevier's revenues were flat at £6,055 million.[2] The company's adjusted operating profit was lower by 1% at £1,555 million, with adjusted earnings per share down 5% to 43.4 pence.[2] Overall, the company's spend on product development and sales and marketing was offset by cost reductions.[2]
Revenue from LexisNexis grew during the year, with strong growth in the risk business. However, subscription revenues in the legal business continued to reflect the lower levels of law firm activity and employment.[2]
In the risk solutions business, strong growth in the insurance business was supported by high transactional activity in the U.S. auto and property markets.[2] A continuous pipeline of new data and analytics products also drives growth, ranging from helping insurers better assess underwriting risk to reducing cost and improving the effectiveness of the insurers’ workflow.[2]
Reed Exhibitions saw revenue growth from biennial exhibitions and a moderated decline in annual show revenues. The 2010 shows have had growing attendance at the majority of annual events and exhibitor numbers up 4% in the top 50 annual shows.[2] Shows in China, Russia, the Middle East and Brazil, in particular, grew strongly.
Reed Business Information saw growth in data services and online marketing solutions and moderated declines in advertising markets. The sale and closure of the U.S. controlled circulation magazines and certain other titles were completed, together with the sale of clusters of titles in Europe and Asia.[2]
Acquisitions
In 2010 Reed Business Information acquired a majority share in the leading petrochemical and energy information service, CBI China.[2] In February 2011, the company acquired Shanghai Datong Medical Information Technology Co., Ltd.[1]
Trends and Forces
Demise of print publications
Reed Elsevier has seen a significant migration from print products to electronic content and tools over the last ten years, so that print revenues now account for only 25% of revenues
Competition
- John Wiley & Sons CL A (JWA)
- McGraw-Hill Companies (MHP)
- Pearson (PSO)
- Scholastic (SCHL)
- News Corporation (NWS)
- Thomson Reuters (TRI)
- Lee Enterprises (LEE)
- Educational Development (EDUC)
References
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