* Reiterates 2011 outlook, market strong in Asia
* Says market conditions improving in US, Europe
* Print, cyclical revenues still under pressure
* Pursuing emerging market buys
AMSTERDAM, May 11 (Reuters) - Dutch publisher Wolters Kluwer (WLSNc.AS) said its key U.S. and European markets are improving and it is looking for acquisitions in higher-growth emerging markets.
“We continue to enlarge our global footprint by extending products beyond their current markets and aggressively pursuing opportunities in emerging markets,” Chief Executive Nancy McKinstry said in a first-quarter trading statement on Wednesday.
Wolters Kluwer, whose specialised publications are used by doctors, lawyers, bankers and accountants, said key markets, including North America and Europe are improving, although cautioned that print sales and other cyclical revenues like advertising, training and consulting remain under pressure.
Market conditions in Asia remain strong, the company said.
Wolters Kluwer’s main rivals are Anglo-Dutch publishing and exhibitions group Reed Elsevier (REL.L) ELSN.AS and Thomson Reuters (TRI.N)(TRI.TO) both of which reported revenue growth in first-quarter trading updates last month. [ID:nN26263605] [ID:nLDE73H1WT]
Wolters Kluwer kept is outlook for 2011 earnings per share in a 1.50 to 1.55 euros range.
It also reiterated the outlook for margins on earnings before interest, taxes and amortization (EBITA), excluding special items, of 20.5 to 21 percent, driven by a restructuring program expected to yield 170-180 million euros in cost savings this year.
Wolters Kluwer said revenue from subscriptions and electronic products continued to grow in the first quarter.
By the end of 2012, Wolters Kluwer has said it aims to derive more than 75 percent of group revenues from online or electronic products, reducing its dependency on printed publications.
That compares with 49 percent of revenue when the online transition was launched at the end of 2008. (Reporting by Roberta B. Cowan; Editing by Erica Billingham)