Reed shares bounce back

Reed shares bounce back

Reed’s share price jumped 42.25p to 495.25p during trading on Thursday after it unveiled a rise in operating margin from 23 per cent to 24 per cent for 2003,on flat sales. The share price has yo-yoed between 445p and 492p since mid-December, reflecting market concerns about the challenge from open access publishing. Overall, turnover rose by 1 per cent to £4.9 billion and adjusted operating profit was up 6 per cent to £1.2 billion.

Source: theBookseller.com Informer 20 February 2004