First-quarter organic growth overall in line with second half 2011 trend.
Wolters Kluwer, a global leader in professional information services, today released its scheduled 2012 first-quarter trading update reaffirming full-year guidance.
- Full-year 2012 guidance reaffirmed.
- First-quarter organic growth overall in line with second half 2011 trend.
- Online, software and service revenues saw continued growth, partially offset by declines in print publishing.
- North America and Asia driving growth; Europe continues to be challenging.
- Cash flow remains strong and leverage is improving.
- Share buy-back: 3.5 million shares repurchased in the year to date (€50 million).
Nancy McKinstry, CEO and Chairman of the Executive Board, commented on the company’s first-quarter trading update: “The first quarter was in line with our expectations. Growth of online and software products drove positive performance in our subscription revenues and continues to support the transformation of our company. The resilience of our business is helping us withstand challenging macro-economic conditions, especially in Europe. We continue to invest in product innovation and geographic expansion while actively managing the portfolio to shift further towards higher growth markets. We remain confident we can deliver on our guidance for the full year 2012.”