Wolters Kluwer 2011 Net Profit Declines 58%, Announces Buyback Program

Wolters Kluwer NV WTKWY posted a 58% drop in its 2011 net profit. It also announced its plans to launch a share buy-back of up to EUR100 million in 2012. Wolters Kluwer's full year net profit dropped to EUR120 million, versus EUR288 in 2010. Its revenue rose 1% to EUR3.35 billion. Wolters Kluwer also proposed a dividend of EUR0.68 a share. Wolters Kluwer shares closed at $18.36 yesterday.