Digital powers Reed Elsevier

The digital revolution continues at publisher and events organiser Reed Elsevier, where print is down to just 22 per cent of turnover.

The owner of the Lexis Nexis legal database, Bankers' Almanac and the Mipim property trade show said underlying operating profit rose 5 per cent to £1.6bn last year after new online product launches and a cost-cutting drive.

Its chief executive Erik Engstrom said: "We expect to deliver another year of underlying revenue and profit growth in 2012."