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WK Sees 5 Percent Rev Increase

Nancy McKinstry, Wolters KluwerWolters Kluwer says revenue for the nine months ended September 30 was 5-percent higher than the corresponding period in 2016. Organic revenue was also 5 percent more than in the same period a year earlier as its health revenue led the company with a 6-percent year-over-year increase for period just reported.

The information was part of the company's trading update for the third quarter. European companies that report trading updates for the first and third quarter provide percentage changes, but no actual amounts of revenue, expenses or profits.

"The year is progressing well, with recurring revenues sustaining good organic growth. Non-recurring revenue trends improved in the third quarter, but remained subdued as expected," CEO Nancy McKinstry said in a prepared statement.

Tax and Accounting had organic growth of 4 percent, comparable to 3 percent for the nine-month reported in 2016. However, the company said this stemmed from the "favorable timing of non-recurring filing fees and software license and implementation fees, expected to reverse in the fourth quarter."

Wolters Kluwer did not cite any specific products as contributing to growth but said generally, "software solutions for professional firms, corporations and governments continued to drive the division's organic growth."

North America, which provides 62 percent of revenue, had organic growth of 4 percent, compared to 3 percent a year ago. Adjusted operating profit was up 10 percent and the company reported profit margins increased for all units except Tax & Accounting.

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