Publishing concern Wolters Kluwer on Wednesday announced better than expected results for 2008, despite the downturn in advertising sales.
Net profit was €315m compared with €918m in 2007, but that figure includes a one-off book profit of €330m from the sale of its educational division.
Turnover dropped slightly from €3.37bn in 2007 to €3.41bn in 2008.
In a statement, CEO said Nancy McKinstry said Wolters Kluwer expected core profit to be in line with 2008 this year. ‘Wolters Kluwer delivered strong profitability and cash flow during 2008, despite challenging economic conditions,’ she said.
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