Nancy McKinstry, Wolters KluwerSoftware drove a revenue increase of 4 percent for Wolters Kluwer Tax and Accounting North America for the first half ended June 30. Worldwide, tax and accounting produced revenue of about $627.6 million, up 1 percent. In a recent earnings statement, the company attributed the unit's North American growth to sales of both its on-premise and cloud-based applications.

Operating profit for the division was about $160 million, a decrease of 22 percent from last year's corresponding period. The North American business represents 58 percent of the division's revenue.

The company said CCH ProSystem fx showed steady organic growth while the cloud-based CCH Axcess continued to see growth among medium and large firms. It also cited CCH iFirm, a new practice management tool for small firms, as generating new revenue while the sale of bank products continued to fall.

Wolters Kluwer also said its research platform, CCH IntelliConnect, saw improved renewal rates after last year's introduction of CCH CodeConnect.

"We are encouraged by prformanc of our digital tax research platform CCH IntelliConnect following a series of enhancments," CEO Nancy McKinstry said in a prepared statement.

The company's net profit reached about $222 million, up 23 percent from last years corresponding period. World-wide revenue for the most recently ended period was $2.82 billion, up 1 percent from a year earlier. The totals were up 3 percent in constant currency and organic growth.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Tuesday, 09 August 2016
Read 1422 times
Rate this item
(0 votes)

Visit other PMG Sites:

Template Settings

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Text Color

Header

Background Color

Footer

Select menu
Google Font
Body Font-size
Body Font-family
Direction
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline