Wolters Kluwer FY earnings rise, reiterates 2007 outlook - UPDATE |
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Wed, 28 Feb 2007 10:44
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(Updates with divisional breakdown)AMSTERDAM (AFX) - Wolters Kluwer NV reported full-year earnings of which sales and operating profit bested analyst expectations while net profit missed forecasts, and reiterated its 2007 outlook while raising its final dividend by 5 pct, dealers said.The company did not say what it may do with the proceeds from the sale of the Education division, as some analysts had hoped.Net profit was 322 mln eur, up from 261 mln in 2005 but below analysts' consensus of 349.8 mln eur.Sales rose to 3.693 bln eur, up from 3.374 bln and higher than the 3.666 bln pencilled in by analysts. Operating profit came in at 618 mln eur, up from 533 mln a year ago and higher than the Thomson Financial 550.2 mln eur consensus.Organic sales growth in 2006 was 3 pct, as the publishing group had earlier guided in its third quarter earnings report.Wolters Kluwer reiterated its 2007 outlook of 4 pct organic sales growth, 19-20 pct EBITA margins and earnings per share of between 1.45-1.55 eur.Sales at the Health division in the fourth quarter rose to 232 mln eur, up from 199 mln in the third quarter, but operating profit dropped to 28 mln eur from 31 mln.Corporate & Financial Services saw sales edge up to 137 mln eur, from 136 mln a quarter earlier, while operating profit almost doubled to 27 mln eur, from 14 mln.Tax, Accounting & Legal recorded sales of 179 mln eur in the fourth quarter, up from 165 mln, but operating profit dropped to 8 mln eur, from 15 mln a quarter earlier.Legal, Tax & Regulatory Europe saw sales rise to 398 mln eur, up from 380 mln, and operating profit rose to 91 mln eur from 60 mln.The Education division saw sales rise - to 57 mln from 52 mln a quarter earlier - but recorded an operating loss at 2 mln eur, from a 4 mln loss in the third quarter.kaj.leers@thomson.comkel/jfr/kel/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Wolters Kluwer FY earnings rise, reiterates 2007 outlook 