Reed Business Information has bumped up its information-publishing portfolio in a sign of ‘business as usual’at the up-for-sale b2b publisher.
RBI has bought a gas information publisher, Heren Energy, to form part of its commodity market information business.
The move came after last month’s announcement by RBI parent company Reed Elsevier that it was selling itsUK basedbusiness magazines.
Following the announcement, RBI chief executive Keith Jones told staff that it was ‘business as usual’at the company and indicated that it would continue to buy ‘fast growing’companies.
The sale of Heren Energy, a gas, power and carbon market information publisher, was completed yesterday for an undisclosed sum.
Reed Elsevier said the B2B magazines in its Sutton-based Reed Business Information division no longer fitted in with the rest of the company, because it was still heavily reliant on advertising.
The planned sale is part of a restructuring programme at Reed Elsevier, which will see the publicly listed company move away from advertising-funded products to focus on subscription-based services and events.
In its 2007 end-of-year results RBI posted a £119m operating profit, with like-for-like revenue up three per cent to £906m. Around 60 per cent of this revenue came from advertising, and almost a third of RBI’s revenue was made online.
The Reed Exhibitions business, which Reed Elsevier is looking to keep, saw like-for-like revenues rise 12 per cent to £577m.