8th May 2018 17:04
LONDON (Alliance News) - Euromoney Institutional Investor PLC on Tuesday said that its founder and Non-Executive Director Patrick Sergeant intends to retire on May 16.
The business magazine publisher said that Sergeant, who founded Euromoney in 1969, will become life president after his retirement.
Earlier this year, Euromoney acquired equities survey firm Extel from WeConvene Ltd for an undisclosed sum and also separately sold its Global Markets Intelligence unit for USD180.5 million in cash to CITIC Capital Partners Management Ltd - the private equity arm of CITIC Capital Holdings Ltd - and Caixin Global Ltd.
For the first quarter, the company posted a 6% rise in group revenue due to growth in subscription and events revenue and benefit from recent acquisitions.
For the three months to December-end, Euromoney recorded group revenue of GBP100.8 million, versus GBP95.2 million in the comparative year ago period, with subscriptions revenue rising 5% to GBP65.6 million and event sponsorship posting 30% revenue growth to GBP11.8 million.
Shares in the company closed at 1,300.00 pence each.
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