DODS.L Regulatory News (DODS)

12 Dec 2006 07:01

Huveaux PLC12 December 2006 12 DECEMBER 2006 HUVEAUX PLC PRE-CLOSE TRADING UPDATE IN RESPECT OF THE FINANCIAL YEAR 2006 Huveaux is pleased to provide the following pre-close trading update for theyear ended 31 December 2006. Group revenues and profits have shown impressivegrowth compared to 2005, principally driven by acquisitions. The Board expectsrevenues of approximately £45 million for 2006 and the results as a whole toshow a satisfactory out-turn for the year. In the Political Division, underlying organic sales growth for the year islikely to be approximately 5% which is an excellent performance in apost-election year. We are also encouraged by the Division's double-digit growthin the second half, largely achieved through a record number of successful newproduct launches. Within the Learning Division, Political Knowledge is achieving organic salesgrowth in excess of 20%, while Epic will see marginally lower sales than in 2005as we have concentrated our efforts on higher margin contracts and productsresulting in an improved operating profit. Epic also continues to benefit from aclose working relationship with other parts of the Group which has resulted insignificant contract wins that will benefit 2007. At Lonsdale and Letts,teachers have found the introduction of the new Science syllabus during the yearcomplex and unsettling and consequently schools have delayed ordering these newtitles. However, taken as a whole, we have seen a more positive performance thanexpected from Letts and Leckie & Leckie (acquired in September) and theirsuccessful integration with Lonsdale has been completed according to plan.Overall, the Learning Division is likely to deliver a satisfactory result for2006. As predicted, sales in our Healthcare Division in France have remained flat in2006, although the operating profit margin will increase from 9% toapproximately 15%. The Division has delivered on its objective of significantlyincreasing profits whilst building market leadership in Continuing MedicalEducation publishing and this will create a strong platform for growth in 2007. The financial year 2006 will be Huveaux's fifth consecutive year of significantrevenue, profits and dividend growth and will represent a further important stepin building a strong corporate track record. The Board looks forward to afurther year of sustained growth in 2007. The Company intends to announce its Preliminary Results for 2006 on 5 March2007. For further information, please contact: Huveaux PLCJohn van KuffelerChairman 020 7245 0270 FinsburyJames Leviton 020 7251 3801 Note to Editors: Huveaux was formed in 2001 with the objective of building a substantial,high-quality publishing and media group. The Group consists of three Divisions each of which has strong brands and marketleading positions: Political Division comprises Dod's Parliamentary Companion, The House Magazine,Epolitix.com and numerous other political magazine titles, monitoring productsand revenue-generating websites. It is the market leader in Politicalbusiness-to-business publishing in the UK and the EU. Learning Division comprises Epic, the UK market leader in e-learning, TheTraining Journal magazine and the highly acclaimed Westminster Explainedconferences and seminars business. It also comprises Lonsdale, Letts Educationaland Leckie & Leckie, the leading providers of study aids and revision guides inEngland and Scotland. Healthcare Division, based in France, comprises Panorama du Medecin, a leadingweekly magazine for French doctors, Le Concours Medical and La Revue duPraticien, both market-leading Continuing Medical Education magazines, Egora.fr,the leading medical information website, and a number of other magazines and amedical conference business. Huveaux has now completed 12 successful acquisitions over the past five yearsand employs more than 500 staff in London, Paris, Brussels, Edinburgh and fourother UK regional offices. Further information about Huveaux can be found at www.huveauxplc.com The name Huveaux is a trademark of Huveaux PLC. All other trademarks mentionedherein are the property of Huveaux's respective subsidiary companies. All rightsreserved. This information is provided by RNS The company news service from the London Stock Exchange