Wolters Kluwer: keeps 2018 guidance; shares weaker
(CercleFinance.com) - Dutch publisher Wolters Kluwer stuck to its full-year guidance in its interim trading update on Wednesday, citing a sharpened portfolio and favourable market conditions.
Wolters Kluwer, whose specialised publications are used by professionals, said its first-half adjusted operating profit reached 451 million euros, up 8% at constant currencies.
The group, which is focusing on digital and expert solutions, said that its revenues rose 1% at constant currencies, and were up 4% organically.
Citing confidence in its outlook, the Dutch publisher reiterated its full-year outlook of an adjusted operating margin of between 22.5% and 23%.
In addition, Wolters Kluwer now intends to spend a total of 550 million euros on buybacks this year. Of this, 300 million euros has been completed in the year to date, the company said.
Even so, the shares were down 3.5 percent on Euronext Amsterdam after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Wolters Kluwer, whose specialised publications are used by professionals, said its first-half adjusted operating profit reached 451 million euros, up 8% at constant currencies.
The group, which is focusing on digital and expert solutions, said that its revenues rose 1% at constant currencies, and were up 4% organically.
Citing confidence in its outlook, the Dutch publisher reiterated its full-year outlook of an adjusted operating margin of between 22.5% and 23%.
In addition, Wolters Kluwer now intends to spend a total of 550 million euros on buybacks this year. Of this, 300 million euros has been completed in the year to date, the company said.
Even so, the shares were down 3.5 percent on Euronext Amsterdam after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.