Two business publishers have reported modest financial growth in interim financial updates, after content and services subscriptions held up.
“Underlying revenues across the Group were 9% ahead of the same period last year. Underlying print, digital and events revenues were up 2%, 15% and 23% respectively. By source, underlying advertising and paid-for content revenues were both up 6% against the same period last year.”
“Underlying revenue growth of 1%. Data services have continued to grow well … Leading magazine brands were flat in the first nine months while other local business magazines and services, particularly in continental Europe, continued the decline seen in the first half. While we are seeing some recent impact on print advertising markets from the weaker European economic outlook, the effect has so far been limited and largely offset by improving sales and marketing effectiveness.”
RBI owner Reed Elsevier (NYSE: RUK) says its underlying revenue grew by one percent.
CEO Erik Engstrom (pictured): “Our large subscription and data businesses are continuing to perform well … The recent uncertainty in the macro-economic environment has had a limited impact on some of our more cyclical businesses with only a marginal effect on our overall results to date.”