Document Management

Wolters Kluwer First Quarter Weak

Parent Category: ROOT
Friday, 10 May 2013
Published Date
Written by The Progressive Accountant

Nancy McKinstry, Wolters KluwerFinancial results for Wolters Kluwer were hit by economic conditions with the parent to CCH reported this weak in a trading update for its first quarter ended March 31. Earnings declined slightly with revenue flat at constant currencies and down 1 percent organically with Eurpean economies denting results. In North America, growth in software revenue was offset by declines in bank product fees in its tax business and print publications.

The company does not provide actual revenue and earnings figures in trading updates. It said the first quarter EBITA margin - the measure used instead of the American EBDTA - declined modestly because of investments and restructuring costs. Digital products and recurring revenue showed growth.

In a prepared statement, CEO Nancy McKinstry said that, "The first quarter faced tough comparables against the prior year, but overall performance was in line with our expectations." Restructuring, whose expenses largely reflect severance, is expected to help profits in the second half.

Visit other PMG Sites:
Template Settings
Theme

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Link Color
Text Color

Header

Background Color
Background Image
pattern1 pattern2 pattern3 pattern4 pattern5

Footer

Background Color
Background Image
pattern1 pattern2 pattern3 pattern4 pattern5
Layout
Select layout
Menu
Select menu
Typography
Google Font
Body Font-size
Body Font-family
Direction
Reset