Thursday, July 31, 2008

RBI is up or down too!

The publication of results is supposed to illuminate not obfuscate. Reed Elsevier published its interim results for the first half to June yesterday. Naturally we were immediately interested in how "up for sale" RBI was doing. Remember RBIoperates in the US, the UK and Europe. The results are shown in sterling and Euros. The sterling results say that revenue is up and profits are up. The results in Euros say revenue is down and profits are down.

So RBI is either doing better or worse than last year. This Dutch analysis says that the grwoth is almost entirley down to exchange rate movements and that RBI is down.

The statement says good progress is being made with the sale of RBI. Staple finance and vendor due diligence is in place.
Still no evidence of my promised big anouncement this week. I am going back to my source and will let you know.

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