Reed Elsevier's profit up, revenue down

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London--Reed Elsevier plc Thursday reported a first-half net profit of $156.1 million, flat compared with the same period last year. The Anglo-Dutch company, which owns Reed Business Information, Lexis-Nexis and other properties in the U.S., posted revenue of $3.77 billion, down from $3.97 billion in the first half of 2002. “Absent any marked deterioration in our markets, we expect to deliver on our targets of above market revenue growth and double-digit adjusted earning per share growth at constant currencies for 2003,” said Crispin Davis, Reed Elsevier’s CEO, in a statement.
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