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PW: Revenues Up 21% at Wolters Kluwer

-- Publishers Weekly, 3/30/1998

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Revenues Up 21% at Wolters Kluwer
-- 3/30/98


Sales at Wolters Kluwer rose 21% in 1997, to $2.66 billion, while net income also increased 21%, to $295 million. The company said sales growth was especially strong in Germany, France, the U.K. and the U.S., where results of CCH, acquired in 1996, "exceeded expectations."

During the year, WK took restructuring charges of $71 million. The company also had an after-tax charge of $4.6 million-expenses related to its failed effort to merge with Reed Elsevier. Although the merger with Reed did not go through, WK spent $478 million on acquisitions last year, and said that its expansion strategy for 1998 will feature both internal growth and acquisitions.

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