The McGraw-Hill Companies is predicting a continuation of the company’s earning records, with double-digit growth expected for 2007.
Harold McGraw III, chairman, president and CEO, of the companies said that even though the rate of growth was expected to slow during the second half of the year, the double-digit growth forecast was still a reality.
“For the full year, we also still expect to achieve double-digit top- and bottom-line growth in Financial Services, as well as improved operating margins in our McGraw-Hill Education and Financial Services business segments,” McGraw said. “Given the seasonality of our education business, the third quarter is the Corporation’s most critical each year, and at this point we are in very good shape.”
McGraw reported that while the company’s Education and Financial Services divisions were on track, the outlook for the Information & Media division might not be as good.
“In Financial Services we anticipate top-line growth of nine-to-12 percent and double-digit bottom-line growth in the third quarter, while our Information & Media businesses will continue to battle the impact of a soft advertising market for the remainder of the year, which may affect our hopes for 2007 margin improvement in this business segment,” McGraw said.
McGraw Hill is a global information services provider in the areas of education, business information and financial services. The company owns four ABC affiliates in Denver, San Diego, Indianapolis and Bakersfield, Calif.
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