European professional publishers should outperform the wider media sector

Lehman Brothers said European professional publishers should outperform the wider media sector, should economic outlook continue to deteriorate principally because of its lack of exposure to the consumer marketplace and the cost benefits enjoyed by professional publish in off shoring.

This seems borne out by good results posted recently by Wiley where its STM division where profits were up by 15%. The report raised some concerns about the ability of the education market to support the same revenue growth and margin potential seen elsewhere in the professional publishing sector.

Overall the European Media sector received a neutral rating.