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BUZZ-Reed Elsevier: lacklustre FY fails to keep shares at record

Reuters - UK Focus

** Reed Elsevier (LSE: REL.L - news) dives off an all-time high hit earlier this week as in-line numbers prove insufficient to justify powerful rally from the publisher

** Stock, down 5.4 pct, top UK blue-chip faller & most actively traded stock on index, with 2/3 of 90-day daily avg volume having already gone through

** Co now on 12-mth fwd PE of 20 times vs 10-yr avg of 13.5, according to Thomson Reuters data (up 23 pct from mid-Oct low vs 14 pct rise on FTSE 100)

** Co says to simplify the Anglo Dutch group into one unit in latest stage of its transformation (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)