Reed Elsevier says on track for 10% EPS growth

LONDON, July 26 Thu Jul 26, 2007 7:22am BST

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LONDON, July 26 (Reuters) - Anglo-Dutch publisher Reed Elsevier (ELSN.AS) (REL.L) said on Thursday its adjusted first-half operating profits rose 3 percent to 530 million pounds ($1.09 billion) and that it was on track to post adjusted earnings per share growth of at least 10 percent.

Reed Chief Executive Crispin Davis said market conditions were "generally favourable" and the company was well placed for a strong second half.

Reed said adjusted earnings per share from total operations, which includes the Harcourt education business it is selling, rose 1 percent to 14.3 pence at constant exchange rates.