Reed Elsevier Plc has reported underlying revenue growth of 1% in the nine months to the end of September 2011.
In an interim management statement, the company announced underlying revenue growth in each of its five business areas. Elsevier was up 2% and LexisNexis Risk Solutions up 4%, with "good demand continuing" in financial and corporate markets, although growth in employment screening has "slowed". At LexisNexis Legal & Professional underlying revenue growth was up 1%, with law firm markets remaining "stable but subdued".
Reed Business Information also showed a 1% rise. At Reed Exhibitions underlying revenue growth was up 12% excluding the net cycling out of biennial shows, but there was underlying revenue decline of 1% if cycling effects are included.
Reed Elsevier c.e.o. Erik Engstrom said that the overall improvement in the company's trading performance in the first half of 2011 had continued. "Our large subscription and data businesses are continuing to perform well, increasingly providing information solutions that demonstrably improve the economics of our professional and business customers," he said. "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."
Engstrom added the company was continuing to strengthen the fundamentals of the business through reshaping of the portfolio, investing in its market positions and driving process efficiency.