Huveaux PLC
12 December 2006
12 DECEMBER 2006
HUVEAUX PLC
PRE-CLOSE TRADING UPDATE
IN RESPECT OF THE FINANCIAL YEAR 2006
Huveaux is pleased to provide the following pre-close trading update for the
year ended 31 December 2006. Group revenues and profits have shown impressive
growth compared to 2005, principally driven by acquisitions. The Board expects
revenues of approximately £45 million for 2006 and the results as a whole to
show a satisfactory out-turn for the year.
In the Political Division, underlying organic sales growth for the year is
likely to be approximately 5% which is an excellent performance in a
post-election year. We are also encouraged by the Division's double-digit growth
in the second half, largely achieved through a record number of successful new
product launches.
Within the Learning Division, Political Knowledge is achieving organic sales
growth in excess of 20%, while Epic will see marginally lower sales than in 2005
as we have concentrated our efforts on higher margin contracts and products
resulting in an improved operating profit. Epic also continues to benefit from a
close working relationship with other parts of the Group which has resulted in
significant contract wins that will benefit 2007. At Lonsdale and Letts,
teachers have found the introduction of the new Science syllabus during the year
complex and unsettling and consequently schools have delayed ordering these new
titles. However, taken as a whole, we have seen a more positive performance than
expected from Letts and Leckie & Leckie (acquired in September) and their
successful integration with Lonsdale has been completed according to plan.
Overall, the Learning Division is likely to deliver a satisfactory result for
2006.
As predicted, sales in our Healthcare Division in France have remained flat in
2006, although the operating profit margin will increase from 9% to
approximately 15%. The Division has delivered on its objective of significantly
increasing profits whilst building market leadership in Continuing Medical
Education publishing and this will create a strong platform for growth in 2007.
The financial year 2006 will be Huveaux's fifth consecutive year of significant
revenue, profits and dividend growth and will represent a further important step
in building a strong corporate track record. The Board looks forward to a
further year of sustained growth in 2007.
The Company intends to announce its Preliminary Results for 2006 on 5 March
2007.
For further information, please contact:
Huveaux PLC
John van Kuffeler
Chairman 020 7245 0270
Finsbury
James Leviton 020 7251 3801
Note to Editors:
Huveaux was formed in 2001 with the objective of building a substantial,
high-quality publishing and media group.
The Group consists of three Divisions each of which has strong brands and market
leading positions:
Political Division comprises Dod's Parliamentary Companion, The House Magazine,
Epolitix.com and numerous other political magazine titles, monitoring products
and revenue-generating websites. It is the market leader in Political
business-to-business publishing in the UK and the EU.
Learning Division comprises Epic, the UK market leader in e-learning, The
Training Journal magazine and the highly acclaimed Westminster Explained
conferences and seminars business. It also comprises Lonsdale, Letts Educational
and Leckie & Leckie, the leading providers of study aids and revision guides in
England and Scotland.
Healthcare Division, based in France, comprises Panorama du Medecin, a leading
weekly magazine for French doctors, Le Concours Medical and La Revue du
Praticien, both market-leading Continuing Medical Education magazines, Egora.fr,
the leading medical information website, and a number of other magazines and a
medical conference business.
Huveaux has now completed 12 successful acquisitions over the past five years
and employs more than 500 staff in London, Paris, Brussels, Edinburgh and four
other UK regional offices.
Further information about Huveaux can be found at www.huveauxplc.com
The name Huveaux is a trademark of Huveaux PLC. All other trademarks mentioned
herein are the property of Huveaux's respective subsidiary companies. All rights
reserved.
This information is provided by RNS
The company news service from the London Stock Exchange
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