By Joe Hoppe
Wolters Kluwer NV said Wednesday that its first-quarter revenue and adjusted operating margin rose, and backed its full-year guidance.
The Dutch provider of professional information services said that revenue for the first three months of the year rose 8% on a constant currency basis and 8% annually. Recurring revenue grew 8% organically, while non-recurring revenue rose 9% organically.
Wolters Kluwer said its adjusted operating profit margin for the period increased, with a strong operational gearing more than making up for increased personnel expenses related to recent hires.
The company backed its 2022 guidance of an adjusted operating profit margin of 25.5%-26.0%, up from 25.3% at the end of 2021. Diluted adjusted earnings per share is expected to see mid-single-digit growth, from 3.38 euros ($3.56) in 2021.
“While we face more challenging revenue comparables in the remainder of the year, we are confident in reaffirming our overall guidance for 2022,” Chief Executive and Chairwoman Nancy McKinstry said.
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By Joe Hoppe