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Reed to sell struggling education ops, FY adj pretax up 5 pct


Published : Thu, 15 Feb 2007 08:46
By : Agencies
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LONDON (AFX) - Anglo-Dutch publisher Reed Elsevier PLC announced plans to sell its under-performing education division and return the proceeds to shareholders as it reported reported a 4 pct rise in full-year revenue and said market conditions for 2007 were generally positive.

Reed, which counts the Lancet medical journal and New Scientist magazine among its 15,000-plus publications, said adjusted pretax profit rose 5 pct to 1.02 bln stg on revenue of 5.39 bln stg.

Reported pretax rose to 721 mln stg from 701 mln.

nick.huber@afxnews.com

nh/lam

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