Informa underlying revenues up 9.3pc YTD

(Sharecast News) - Publishing and events business Informa said on Tuesday that underlying revenues had grown 9.3% in the five months ended 31 May as it told investors that roughly 70% of FY target revenues had already been traded, booked or committed. Informa said B2B Live Events revenues were up 8.3% in the period, while its Academic Markets arm reported underlying revenue growth of 13.7%, and its Informa TechTarget wing posted an underlying revenue decline of roughly 5%, reflecting "continuing market softness" through the accelerated combination period.

Looking ahead, Informa said revenues of more than £2.8bn had already been traded, booked or committed for the full year through subscriptions, recurring exhibitor revenues and forward booked contracts, pacing it ahead of last year.

Informa also reaffirmed its FY underlying revenue growth guidance of over 5%, with B2B Events revenue expected to be over 7% higher year-on-year. However, it did note that further weakening of the US dollar was expected to translate to reported revenues of roughly £4.0bn and adjusted earnings growth of 10%.

Chief executive Stephen Carter said: "The commercial power of our Live B2B Event Brands and Academic Market Services is driving further strong growth for Informa.

"The Informa Growth Platform is built on leading specialist Brands, market categories in structural growth, International reach into growth economies, first-party data and world-class industry talent"

Reporting by Iain Gilbert at Sharecast.com