20th Oct 2015 06:28
LONDON (Alliance News) - Publishing and business intelligence company Informa PLC Tuesday reaffirmed its full-year expectations on a "consistent performance" in its third quarter, taking its revenue growth for the first nine months of 2015 to 6.9%.
Informa said that, on an organic basis, revenue growth for the nine months to end-September was around 2%. Organic basis revenue is adjusted for the impact of acquisitions and events phasing. There was an absence of two major non-annual exhibitions in the recent period, the company said, and some large conferences have been moved from the third to the fourth quarter.
The company said that trading conditions continue to vary by region, with good strength in North America and the UK, although this was offset by ongoing volatility across parts of Europe, Latin America and Asia due to currency weakness, political unrest and wider macro uncertainty.
Informa saw growing and strong demand in its Exhibitions segment, as well as a strong market for its specialist information services. Its Academic Publishing market remained robust, Informa said, although there was some ongoing softness in the US Medical Books market.
The company's investment programme, dubbed the 'growth acceleration plan' saw continued progress, it said, with the estimated spend of between GBP70 and GBP90 million under the plan unchanged.
"Informa's continued and improving operational performance and ongoing progress in the implementation of our growth acceleration plan positions the group to deliver the improvements in operations and earnings targeted for 2015," said Chief Executive Stephen Carter in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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