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Publisher Wolters Kluwers' shares fall on 4Q earnings report

Publisher Wolters Kluwers' shares fall on 4Q earnings report

Shares in publisher Wolters Kluwer NV fell Wednesday after the company reported fourth quarter earnings showing a decline in sales.
Net profit was euro94 million (US$139 million), up 2.2 percent from euro92 million in the same quarter a year earlier. Sales fell 1 percent to euro937 million (US$1.39 billion).
Shares fell 6 percent to euro18.27 (US$27.08).
Wolters Kluwer, which publishes materials used by accountants, legal and medical professionals, blamed the fall in sales on the weak dollar. It said operating profit, which excludes non-recurring gains and losses, was up 29 percent from a year ago, but higher taxes and a "loss on the sale of a product line in Europe that did not fit strategically" had eroded the bottom line.


Updated : 2021-01-18 05:44 GMT+08:00