Make sure to note the third paragraph in the article re: open access.
Elsevier, which contains the science publishing divisions and accounts for 44% of adjusted profits for the entire group, saw sales grow 4%, while profit increased 9%.
The legal wing LexisNexis, which makes up 42% of adjusted operating profits for the group, saw sales grow 14%, and adjusted operating profit rise 13%, at constant currency. Reed said its core law firm markets were flat in US and marginally lower internationally reflecting a downturn in legal services industry.
[Snip]
One area of concern highlighted within the report is the growth of open access within the journals market. "If these methods of STM publishing are widely adopted or mandated, it could adversely affect our revenue from paid subscription publications," the statement said. [our emphasis]
Digital piracy, and the need to protect Reed Elsevier's intellectual property, was also highlighted as a "principal risk", warning that "our proprietary rights could be challenged, limited, invalidated or circumvented".
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