Business Services Industry
British Media Giant Reed Elsevier Says Growth to Slow to Single Digits.
Knight Ridder/Tribune Business News, December, 2003
Daily Mail, London Knight Ridder/Tribune Business News
Dec. 5--Even stock market stalwart Reed Elsevier is fallible. It says three years of double-digit earnings growth will come to an end in 2004. Investors should expect "mid to high single-digit" growth instead.
Reed blames "difficult markets" in education and business publishing. It fell 35 pence to 459 pence in disappointment, even though analysts had already downgraded their own forecasts.
The main reason for the dip is that Reed wants to invest an extra UKpound 50 million in its businesses. It promises a return to double-digit growth for 2005 and beyond.
Sales of science journals and databases remain strong. Business magazines are still suffering from a drop in...
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