By Rory Gallivan
LONDON--Anglo-Dutch publishing and exhibitions company Reed
Elsevier PLC (REL.LN) Thursday reported a fall in full-year net
profit and revenue but said revenue was higher stripping out the
impact of events that are not held every year.
The company, whose portfolio includes the legal research tool
LexisNexis and the magazine New Scientist, posted a net profit of
955 million pounds ($1.27 billion) for the year ended Dec. 31, down
from GBP1.18 billion the previous year. Revenue was down 4% at
GBP5.77 billion but up 3% on an underlying basis, the company
said.
Reed Elsevier, which has listings in London and Amsterdam, said
it plans to simplify its structure by combining all assets below
the two parent companies into a new single group entity, and change
the name of the single group to RELX Group PLC.
"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," said
chairman Anthony Habgood.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
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