AMSTERDAM Feb 28 Anglo-Dutch publishing and
events group Reed Elsevier expects a continued
shift to electronic formats to help drive growth this year, and
it has earmarked a further 300 million pounds ($454 million) for
The owner of the LexisNexis legal database and Science
Direct, the scientific article database, said about 80 percent
of its revenue is now derived from electronic publications and
from its exhibitions and conferences business.
"Although the outlook for the macro environment, and its
impact on our customer markets, is mixed, we have entered 2013
with positive momentum, and expect another year of underlying
revenue, profit, and earnings growth," Chief Executive Erik
Engstrom said in a statement.
The publisher of scientific, business and academic
information said adjusted pretax profit rose 8 percent to 1.50
billion pounds in 2012 as operating profit at all of its
business areas increased.
Adjusted earnings per share rose 7 percent to 50.1 pence,
and group revenue rose 2 percent to 6.12 billion,
Analysts in a Reuters poll forecast pretax profit of 1.48
billion pounds and revenue of 6.20 billion.