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J.D. Power Helps Parent to Double Digit Earnings
In the US, automotive research specialist J.D. Power and Associates has helped parent company McGraw-Hill achieve a 7.9% revenue increase to $223.1 million for its Business-to-Business Group.
In a statement, the firm said that it had benefited from new J.D. Power studies in the financial services and healthcare sectors, as well as increased penetration from existing studies.
Overall, The McGraw-Hill Companies' net income for the second quarter grew by 25.4% to $277.1 million. Revenue for the second quarter of 2007 increased to $1.7 billion, up 12.5% on the same period in 2006. Foreign exchange rates positively affected the growth of revenue by $16.8 million, but had no material impact on operating profit growth.
The firm says it expects to achieve its goal of double-digit earnings growth in 2007 even though it anticipates that the growth rate will slow during the second half of the year.
McGraw-Hill, founded in 1888, has more than 280 offices in 40 countries and is online at www.mcgraw-hill.com while J.D. Power and Associates is on the web at: www.jdpower.com. McGraw-Hill acquired J.D. Power in March 2005 (www.mrweb.com/drno/news4056.htm ).
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