Nip Impressions logo
Fri, Mar 29, 2024 06:42
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
Reed Elsevier will rename itself RELX Group

LONDON -- Reed Elsevier, the Anglo-Dutch "professional information company", has announced plans to simplify its corporate structure and rename itself RELX Group as it forecast another year of growth in 2015.

The company, which has four divisions operating in the science and medical, risk, legal and exhibitions markets, said underlying adjusted operating profit rose 5% to £1.74bn in 2014 on underling revenues that were 3% higher at £5.77bn, excluding exhibition cycling.

Reed said it wants to simplify its structure by bringing together all the assets of its two main parent companies, based in London and Amsterdam, into a new single group entity and eliminate parent company cross-shareholding.

The combination, due to take effect in July, will not change the ownership and dividend rights for all shareholders through the move and will cost the company nothing, but will increase share-price transparency by moving all share listings to an equalization ratio of 1:1.

"We are now extending our efforts to modernize and simplify the company to our corporate structure, our share listings, and our corporate entity names," said chief executive Erik Engstrom.

Underlying growth in 2014 was boosted by an improvement in electronic and face-to-face revenues, which accounted for 82% of the total and grew 5-7%, partially offset by the continuing decline in print revenues.

Reed proposed a 6% increase in the full-year dividend to 26p.

Engstrom said: "Business trends in the early part of 2015 remain consistent with 2014 trends across our business, and we are confident that, by continuing to execute on our strategy, we will deliver another year of underlying revenue, profit, and earnings growth in 2015."


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: