UPDATE 1-Wolters Kluwer sees growth in Q3, keeps outlook

*Wolters Kluwer maintains 2010 EBITA, EPS guidance

*Saw new subscriptions, improved retention rates in Q3

*Says on track to generate 125 mln euros in savings in 2010

(Adds details, CEO comments)

AMSTERDAM, Nov 3 (BestGrowthStock) – Dutch publisher Wolters Kluwer
NV (WLSNc.AS: ) on Wednesday reiterated its full-year 2010 outlook
on the back of strong subscription revenues growth, retention
rates and cost cuts, in line with market expectations.

Wolters Kluwer, which publishes professional information in
the legal, tax, and scientific fields, said it saw improved
earnings before interest, tax and amortisation (EBITA) in the
third quarter, boosted by higher revenues and sales of more
profitable electronic products.

Subscription revenues, which represent 72 percent of the
total, improved, especially electronic revenues, the company
said in its third-quarter trading update.

Wolters Kluwer had already said EBITA margin, excluding
special items, would be 20 to 21 percent, driven by a
restructuring programme.

On Wednesday it said it was on track to make cost savings of
125 million euros ($174.3 million) this year, and kept its
outlook for 2010 diluted ordinary earnings per share of 1.41 to
1.45 euros.

“Despite macro-economic uncertainty, we continue to invest
for the future. In the third quarter, we made good progress by
expanding our footprint globally,” Chief Executive Officer Nancy
McKinstry said in a statement.

“We are confident that in the long run, this strategy will
pay off,” McKinstry said.

Wolters Kluwer competes with Reed Elsevier (REL.L: )(ELSN.AS: )
and Thomson Reuters (TRI.N: ) (TRI.TO: ).

Thomson Reuters raised its full-year revenue forecast last
week after third-quarter revenue in its financial markets
business rose for the first time in nearly two years.
[ID:nN25279353].

Analysts had expected the Dutch publisher to reiterate its
2010 outlook on improving ordinary EBITA margin, strong free
cash flow as investors look for improvements in print
subscriptions and transactional activities, despite tough market
conditions.
(Reporting by Bate Felix; Editing by Sara Webb)
($1=.7172 Euro)

UPDATE 1-Wolters Kluwer sees growth in Q3, keeps outlook