Reed Elsevier expects modest growth this year as sales pick up

 
Marion Dakers
PUBLISHING and events business Reed Elsevier said yesterday revenues have grown three per cent in the first nine months of the year, leaving it on track to deliver “modest” growth in the full year.

The FTSE 100 firm said its exhibitions arm has been trading strongly, with modest growth in Europe bolstered by an uptick in the US and Japan.

A string of small acquisitions in data and risk businesses have set up the firm for further expansion in this area, where revenues were up an underlying six per cent in the period.

However, Reed’s legal publications have been hit by declining print sales and cautious customers.

“In a mixed macro economic environment, positive underlying growth trends were maintained across all major business areas in the first nine months of 2013,” the firm said in a statement.

Shares yesterday rose by 0.2 per cent to 878.1p.