Nancy McKinstry, Wolters Kluwer Wolters Kluwer has reported that revenue increased 2 percent for the first quarter ended March 31; an increase of 3 percent on an organic basis. The company also said it experienced a 1 percent positive impact from the strengthening of the U.S. dollar.

The figures were released recently as the company issued its trading update for the quarter. When European companies issue such updates for the first and third quarters, they typically report percentage changes and not actual revenue or earnings. Those are provided with the first half and annual results.

The company expressed its satisfaction with the results.

"Our overall performance in the first quarter was in line with our expectations and we are on track to achieve our outlook for 2016," CEO Nancy McKinstry said in a prepared statement.

Wolters Kluwer said its Tax & Accounting organization "delivered modest organic growth, in line with our expectations, largely reflecting seasonal patterns and timing." Its statement did not provide any dollar amounts or percentage changes for the unit However, the company said operating profit margins declined because of increased product investment.

Software revenue continued to rise but was partly offset by weakness in print, bank products and training. The company says these results were anticipated. In its prepared statement, it said Wolters Kluwer expects "underlying revenue growth to slightly improve from 2015 levels, driven by continued mix shift towards software solutions."

Last modified on Monday, 16 May 2016
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