Reed forecasts another year of profit and revenue growth

Reed Elsevier, the parent company of business-to-business publisher Reed Business Information, has forecast that 2012 will be "another year of underlying revenue and profit growth" - fuelled by online subscription services and exhibitions.

In a trading update to the City this morning, the group said work was under way to "strengthen" the business, making acquisitions and adjusting its portfolio where needed.

The company's science, technology and health divisions reported growth in database products and a strong rate of subscription renewals.

Exhibitions have seen growth so far this year, but in Europe this was at somewhat lower levels than last year, the company said.

Reed Business Information, which publishes titles including New Scientist and Estates Gazette, is forecasting "good underlying growth in data services to be offset by print advertising declines".

The group said: "Significant progress has been made in increasing the focus of the RBI portfolio on paid content and subscription based online data services."

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