Wolters Kluwer: maintains 2018 guidance after trading update
(CercleFinance.com) - Dutch publisher Wolters Kluwer stuck to its full-year guidance in third-quarter trading update on Wednesday, after nine-month revenues rose 4% in organic terms.
In particular its tax and accounting saw nine-month revenues grow 7% organically, driven by software solutions for professionals, the group said.
Wolters Kluwer - whose specialised publications are used by doctors, lawyers, bankers and accountants - said total revenues declined 5% overall due to the impact of the appreciation of the US dollar.
The company said its nine-month adjusted operating profit declined slightly overall, although rose 6% at constant currencies.
For 2018, Wolters expects to deliver solid organic growth and margin improvement and to achieve an increase in diluted adjusted EPS at constant currencies.
However, investors didn't seem to appreciate this report, with the share falling 2.7% on Euronext Amsterdam this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In particular its tax and accounting saw nine-month revenues grow 7% organically, driven by software solutions for professionals, the group said.
Wolters Kluwer - whose specialised publications are used by doctors, lawyers, bankers and accountants - said total revenues declined 5% overall due to the impact of the appreciation of the US dollar.
The company said its nine-month adjusted operating profit declined slightly overall, although rose 6% at constant currencies.
For 2018, Wolters expects to deliver solid organic growth and margin improvement and to achieve an increase in diluted adjusted EPS at constant currencies.
However, investors didn't seem to appreciate this report, with the share falling 2.7% on Euronext Amsterdam this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.