Wolters Kluwer: 9m results in line, targets confirmed
(CercleFinance.com) - The Dutch publisher Wolters Kluwer on Wednesday increased its operating profit and sales over the first nine months of the year, while declaring that it was beginning to feel the effects of the economic slowdown on its business.
The business information group's sales were up 6% in organic terms over the first nine months to 30 September, in line with the consensus.
Wolters says that it benefited from the solid momentum of its recurring revenues (+7%), which represent 81% of the total.
Its non-recurring revenues suffered from the deterioration of the economic context, with organic growth reaching only 4% in the first nine months of the year.
Operating profit also increased by 6% at constant exchange rates, a performance again in line with market estimates.
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