In the update, the company said revenue was up by 3 percent in constant currency and 2 percent organically for the first quarter ended March 31.

European companies that issue trading updates for the first and third quarter generally do not report actual revenue and earnings and Wolters Kluwer followed that practice. Full financial results are reported for the half and year.

CEO Nancy McKinstry said the tax and accounting growth will also be in line with normal seasonality. As has been the case for some time, growth in software sales was partly offset by declines in print, bank products, training and other services.

She continued that the company expects "solid organic growth in line with 2016 and reflecting normal seasonal selling patterns." Full-year margins are expected to be stable.