Web sales at Reed Elsevier head for £1bn

The FT writes “Electronic sales at Reed Elsevier topped £1bn last year as the Anglo-Dutch media group increased pre-tax profit by 43 per cent”. Crispin Davis, chief executive, said “Reed Elsevier would continue to spend on internet services “on the same scale” when its current plan to spend £750m over three years on web services ended in December”. Lex adds that “This year, further margin improvement is expected from driving internet penetration at Harcourt Science Technical and Medical”