Story sourced from www.mediaweek.com
Profits at B2B publisher Reed Business Information have boomed over the past year, putting on 28% over the past year, according interim results unveiled by parent company Reed Elsevier.
The adjusted figure came alongside underlying revenue growth of 10%, taking the companyís revenues to 124m for the six months to June 30, against 116m for the same period last year.
The publisher of New Scientist, Estates Gazette, Computer Weekly, Flight International and Farmersí Weekly attributed strong growth in its online recruitment and search companies for the strong performance.
Online sales now amount to more than a third of RBIís business, thanks to expansion of sector-specific job sites and the Kellysearch manufacturing search company.
RBIís parent company Reed Business also saw strong online growth for its international business.
Online sales now account for 18% of Reed Business ñ offset by weakness in the European advertising market and in US manufacturing print titles, which have stagnated as business migrates online.
RBIís constant-currency revenue growth of 8 per cent came against flat performance in the US and a 2% decline in Europe.
The company continues to focus on expanding its online business through webzines, recruitment sites, search and subscription information and data services, and plans to put its profits back into additional online investment over the rest of the year.
Profits at parent company Reed Elsevier were up 5% on 2004, leaving the Anglo-Dutch group with an adjusted figure of 395m.
By David Fickling
Story sourced from www.mediaweek.co.uk
Profits at B2B publisher Reed Business Information have boomed over the past year
By David Fickling, Media Week
