Publisher Wolters Kluwer profit falls 8 percent to euro132 million in H1

Wolters Kluwer profit falls 8 percent in H1

AMSTERDAM — Wolters Kluwer NV, a major publisher of medical, legal and accounting journals, reported an 8 percent fall in net profit in the first half of 2009, due to higher operating costs and write-downs on the value of its publishing rights.

Net profit was euro132 million ($187 million), down from euro144 million in the same period a year earlier. Sales rose 7 percent to euro1.72 billion due to acquisitions and favorable exchange rates.

Wolters Kluwer reports earnings twice per year.

“Subscription revenues showed a solid performance compared with the prior year, while other…products were weaker due to recessionary market conditions,” the company said in a statement.

It said it expected similar conditions in the second half of the year.