Wolters Kluwer: keeps 2019 guidance, raises buybacks
(CercleFinance.com) - Dutch publisher Wolters Kluwer stuck to its full-year guidance in a trading update on Friday, and raised its 2019 share repurchase target.
Wolters Kluwer, whose specialised publications are used by physicians, lawyers, and accountants, said it still expects "solid" organic growth and margin improvement over the full year.
Including a fourth-quarter one-time credit of approximately 16 million euros related to the modernization of its US employee benefits, the company now expects a full-year adjusted operating profit margin to be at the top end of its guided margin range.
In the nine months to 30 September, revenues increased by 9% overall, particularly benefiting from the depreciation of the US dollar.
Organic growth was 4%, with all four divisions delivering positive organic growth, it added.
Wolters Kluwer also announced its intention to expand its total intended 2019 buyback to 350 million dollars, from a previous target of 250 million dollars.
The market wasn't enthrawled by all this, with Wolters shares down 2.2% on Euronext Amsterdam after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Wolters Kluwer, whose specialised publications are used by physicians, lawyers, and accountants, said it still expects "solid" organic growth and margin improvement over the full year.
Including a fourth-quarter one-time credit of approximately 16 million euros related to the modernization of its US employee benefits, the company now expects a full-year adjusted operating profit margin to be at the top end of its guided margin range.
In the nine months to 30 September, revenues increased by 9% overall, particularly benefiting from the depreciation of the US dollar.
Organic growth was 4%, with all four divisions delivering positive organic growth, it added.
Wolters Kluwer also announced its intention to expand its total intended 2019 buyback to 350 million dollars, from a previous target of 250 million dollars.
The market wasn't enthrawled by all this, with Wolters shares down 2.2% on Euronext Amsterdam after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.