ANGLO-DUTCH publisher Reed Elsevier expects a gradual recovery in sales and profit margins, after flat sales and a small dip in operating profit last year.
The company, which publishes scientific and academic information and runs the world’s biggest exhibitions business, said increased spending on product development and sales and marketing had been largely offset by cost-efficiency gains.
It added the bulk of its restructuring was now complete.
“Most of our markets are stable or improving, and we are building on the actions taken in 2010 to strengthen the business further. Overall, we expect a gradual recovery and a continued improvement in performance,” the company said in a statement.
Reed Elsevier’s total 2010 revenue was flat at £6.06bn, though up two per cent on an underlying basis, while operating profit slipped one per cent to £1.56bn.