19th Jul 2022 08:33
(Alliance News) - Informa PLC on Tuesday reaffirmed its full-year guidance after reporting strong growth in the first half of 2022.
The company also confirmed the divestment of "non-core" fund flow business EPFR for USD139 million. "Given these proceeds, our strengthening results and the resilience of our core B2B Markets and Academic Markets businesses, we will resume ordinary dividends, whilst supporting our increased share buyback programme," said Chief Executive Stephen Carter.
Ordinary dividends will resume alongside its interim results at 3.0 pence per share.
Shares in Informa were up 3.5% at 556.23p in London early Tuesday, placing the stock amongst the top performers in the FTSE 100 index in morning trade.
For the first half of 2022, underlying revenue growth is expected to be in excess of 40% and underlying adjusted operating profit is expected to more than double.
This should produce half-year revenue of over GBP1.05 billion and adjusted operating profit of over GBP220 million, compared to revenue of GBP688.9 million in the first half of 2021 and adjusted operating profit of GBP69.2 million.
"Trading through the first half of 2022 has been robust across Academic Markets, B2B Markets and Informa Intelligence," it said.
The London-based publisher and events organiser still expects revenue between GBP2.15 billion to GBP2.25 billion for 2022, with adjusted operating profit between GBP470 million to GBP490 million.
At best, this would represent revenue growth of 25% from GBP1.80 billion in 2021 and adjusted operating profit growth of 26% from GBP388.4 million.
"We continue to closely monitor macro trends (inflation, energy prices, cost of living) and geo-political developments, however, forward visibility on subscriptions in Taylor & Francis remain strong, as do forward bookings for Live and On-Demand Events and forward commitments for specialist B2B Digital Services," the company said.
Guidance does not include any contribution from Industry Dive, which Informa announced it has acquired for up to USD525 million. The initial cash consideration is USD389 million.
"Industry Dive brings a scalable, single proprietary technology platform, which will enable us to expand our digital services capabilities and deliver content led services to our B2B audiences," Informa said.
By Lucy Heming; [email protected]
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