Reed Elsevier Finds Ads Stabilizing In H110

The first half of the year for Reed Elsevier (NYSE: RUK) saw ad dollars stabilize, though executives expressed a greater degree of caution regarding the rest of its business looking ahead. The company didn’t provide much detail on its magazines’ performance. The main driver of the company’s business was the exhibitions segment, which saw profits and revenues rise in the single digits. Meanwhile, the LexisNexis unit posted flat revenue compared to the same period last year, while that segment’s operating profit fell 14 percent. In a statement, Anthony Habgood, Reed’s chairman, warned investors not to expect much better results in the latter half: “The subscription nature of our revenues, whilst providing considerable resilience in the recent downturn, means that growth will lag improvements in economic conditions.”