The Anglo-Dutch company Reed Elsevier, London, has announced plans to sell Reed Business Information, the business-to-business publishing division that includes Reed Construction Data and all of its product lines. Reed Elsevier CEO Crispin Davis said the move was aimed at "reducing exposure to advertising markets and cyclicality", enabling the group to focus on its core business of "subscription-based information and workflow solutions". No timetable has been set out for the sale.
Reed Exhibitions business will be retained.
Reed Exhibitions saw revenues 13% ahead at constant currencies, or 12% excluding acquisitions and disposals. Strong growth was seen across the show portfolio with particular success at the Mipim international property show in Cannes and the JCK jewellery show in Las Vegas. Adjusted operating profits were up 11% at constant currencies, or 8% excluding acquisitions and disposals, held back by the cycling out of the contribution from biennial joint venture shows. Excluding the cycling of shows, underlying revenue growth and adjusted operating profit growth were 10% and 11% respectively.
Thirty new shows were launched in the year, in sectors ranging from personal care to aerospace and from Argentina to China. The portfolio was also added to through the acquisition of a joint venture interest in Alcantara Machado, the leading show organiser in Brazil, and of a group of six international aerospace shows.
