3rd Jun 2021 09:27
(Alliance News) - Informa PLC has "increasing confidence" in future growth as physical events return, the business events and publishing firm said Thursday.
London-based Informa said it is trading in line with expectations following the release of its annual results in April. It also remains on track to deliver its baseline revenue target for the year of at least GBP1.7 billion, a 2.4% increase on the GBP1.66 billion generated for its last financial year.
Shares in FTSE 100-listed Informa were up 1.0% at 550.60 pence in London on Thursday.
A positive cashflow is expected, the company said, supported by improving underlying revenue growth in its two subscriptions-led businesses.
The Informa Intelligence division is on track for 4% underlying growth in 2021, the firm stated, having benefitted from recent expansion in the retail banking information market.
Meanwhile, the Taylor & Francis publishing business is on track to return to pre-Covid growth levels in 2021 with the "potential for further improvement" between 2022 and 2024.
Chief Executive Stephen Carter said: "Further strength in Informa's subscriptions-led businesses and measured confidence in the progressive return of physical events in Mainland China, North America and the Middle East, is delivering further stability and security.
"We remain on track to deliver our revenue commitments through the 2021 transition year, whilst continuing to generate positive cashflow. Improving growth in subscriptions, ongoing expansion in digital services and the enduring strength of our B2B brands and platforms, gives us increasing confidence in revitalisation and growth through 2022 to 2024."
By Will Paige; [email protected]
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