That is a significantly big amount for such a big media company: the B2B media firm Reed Elsevier‘s first half 2006 earnings were announced today, and the pre-tax profits rose 14 percent to 446 million pounds ($820.7 million), compared with an average forecast from 10 analysts of 433 million pounds, according to Reuters.. Group revenues increased 8 percent to 2.63 billion pounds, compared with an average forecast of 2.55 billion pounds, and 2.37 billion pounds in H1 last year.
The Elsevier science and medical business grew underlying sales by 5 percent, while the LexisNexis legal publishing arm increased underlying revenues by 8 percent. Its business publishing and exhibitions arm boosted underlying revenues by 7 percent.
Total digital revenues were 15 percent higher than a year ago, and accounted for 37 percent of total revenues. Full earnings release here.
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