Wolters Kluwer this week said its CCH Tagetik and TeamMate experienced double-digit growth in the first quarter ended March 31. In its trading update this week, the company also said, “In Professional Tax & Accounting, organic growth was muted” because of the delayed start to the tax season.WK did not mention the performance of other tax and accounting products. It noted, “Market conditions for new software sales remain challenged.
In trading updates, European companies report limited amount of information for their first and third quarters. WK did not publish any revenue figures, only percentage changes.
The company said Tax & Accounting revenue grew by 5 percent in constant currency, in part because of the purchase of XCM Solutions in September with organic growth coming in at 3 percent. Overall, The weaker U.S. dollar trimmed financial results for the quarter. revenue was down 2 percent, but rose 4 percent in constant currencies.
