AMSTERDAM (dpa-AFX) - Wolters Kluwer N.V. (WTKWY.PK), a Dutch professional information, software solutions and services provider, on Wednesday reported that its nine-month adjusted operating profit increased 8 percent in constant currencies.
Adjusted operating profit margin improved for the period, mainly driven by Financial & Corporate Compliance and Legal & Regulatory divisions.
Total revenues were up 6 percent from last year in constant currencies and grew 6 percent organically.
Recurring revenues, which represented 83 percent of total revenues, increased 7 percent organically. Non-recurring revenues grew 2 percent.
Within recurring revenues, cloud software revenues grew 16 percent organically. The growth was 8 percent in Expert solutions revenues on an organic basis.
Looking ahead, for the full-year 2024, Wolters Kluwer still expects adjusted income per share growth of mid- to high single-digit with adjusted operating profit margin of 26.4 percent to 26.8 percent.
The company said it expects sustained good organic growth in 2024, in line with the prior year, and an increase in the adjusted operating profit margin from last year's 26.4 percent.
The increase in full-year adjusted operating profit margin would be driven by Finance & Corporate Compliance, Legal & Regulatory, and Corporate Performance & ESG divisions.
Further, the company said it remains on track to reach 1 billion euros share buyback by year-end.
For the upcoming year 2025, the company this week signed a third-party mandate to execute up to 100 million euros in share buybacks for the period starting January 2, 2025, up to and including February 24, 2025.
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