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Dollar Holds Down Wolters Kluwer Half

WKThe decline in the American dollar put a dent in an otherwise decent performance for Wolters Kluwer for the half ended June 30.  The company ended up with a 7-percent drop in revenue over last year’s corresponding period. However, revenue was up 1 percent in constant currencies and 4 percent organically, WK said this week.

Profit rose to about $415 million, a 32-percent increase over the first half of 2017 while revenue was about $2.33 billion for the most recently ended period.

Tax & Accounting revenue of approximately $720 million was 2-percent higher than a year earlier; up 10 percent in constant currencies and 6 percent organically. Most of the revenue increase was attributed to CCH Tagetik, acquired in April 2017, and Research & Learning. The company also purchased Adsolut in September.

The North American part of the business was described as delivering “an acceleration in organic growth driven by the ongoing mix shift towards software products and an improvement at Research & Learning.” WK also reported strong performance for its CCH Axcess suite and ProSystem fx Engagement.

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