19th Jan 2023 09:09
(Alliance news) - Informa PLC on Thursday said it has entered 2023 with continuing momentum thanks to a strong finish to 2022.
Informa is a London-based business publisher and events organiser.
Chief Executive Stephen Carter pointed to strong performances in both Academic Markets and B2B markets and a strengthened balance sheet as evidence for the firm to deliver underlying growth in 2022.
"Continued strong performance in traditional pay-to-read publishing combined with further progress in Open Research is expected to deliver about 3% underlying revenue growth in 2022, up from 2.4% in 2021," Informa says.
Informa now expects to post revenue of more than GBP2.38 billion in the year, with adjusted operating profit anticipated at GBP530 million. Free cash flow is expected at GBP440 million.
For 2021, Informa posted revenue of GBP1.80 billion and an adjusted operating profit of GBP388 million. It swung to pretax profit of GBP137.1 million from a loss of GBP1.14 billion in 2020.
Informa added that over GBP500 million of buybacks were completed in 2022. It is committed to paying out a minimum of 40% of the group's continuing adjusted earnings.
The company will release annual results on March 9.
Informa shares were up 1.7% at 671.00 pence each on Thursday morning in London.
By Xindi Wei, Alliance News reporter
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