28th Jul 2015 07:04
LONDON (Alliance News) - Informa PLC on Tuesday reiterated its full-year expectations as it posted a rise in pretax profit for its first half, and sweetened its interim dividend.
Informa posted a pretax profit of GBP121.9 million for the half year to end-June, up from GBP100.2 million, as revenue rose to GBP618.8 million from GBP569.6 million. Revenue growth was primarily driven by the acquisitions of the Hanley Wood and Virgo exhibition business in the second half of 2014.
The business information company proposed an interim dividend of 6.55 pence, up from 6.4 pence a year before.
Informa has been undertaking what it calls its '2014-2017 growth acceleration plan', and expects to invest between GBP30 million and GBP40 million in its current year. The aim of this plan is to have all four of its operating divisions delivering positive organic growth as it enters 2017.
On Monday, Informa said it had sold its Datamonitor Financial, Datamonitor Consumer, MarketLine and Verdict businesses to UK-listed media company Progressive Digital Media Group PLC. Progressive said it acquired the businesses for GBP25.0 million in cash, making the purchases under its strategy of expanding its premium subscription based services, and moving to strengthen its consumer activities.
"Performance and progress in the business, combined with our International expansion is beginning to deliver results. Our strategy of Measured Change and our improving operational capabilities allow us to raise the interim dividend, fully fund our investment programme and commit to our growth ambitions for the full year," said Informa Chief Executive Officer Stephen Carter said in a statement Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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