14th Nov 2022 09:59
(Alliance News) - Informa PLC on Monday upgraded its full-year outlook on the back of strong underlying revenue growth in the first 10 months of the year.
The London-based business publisher and events organiser reported underlying revenue growth of 41% in its continuing business in the 10-months to October, thanks to strong trading in all three of its Business-to-Business Markets businesses and in its Academic Market business.
For 2021, Informa posted an underlying revenue of GBP1.80 billion.
Informa said 2022 performance is tracking toward 85% of equivalent full-year revenue in 2019, when excluding China, which has been hurt by Covid-19 restrictions.
In 2019, Informa's total revenue was GBP2.89 billion.
"Growth has been consistent across all specialist markets and all geographic regions where Covid restrictions have been removed and are fully open. In the US, customer demand has been particularly strong as business to business activity has returned at pace, playing to the strength of our brands, leadership positions within key specialist markets and the scale of our overall business in the region," Informa said.
As a result, Informa increased its guidance range for revenue to between GBP2.30 billion and GBP2.35 billion for 2022 from between GBP2.15 billion to GBP2.25 billion previously.
Adjusted operating profit was raised to between GBP490 million and GBP505 million from between GBP470 million and GBP490 million to reflect "further outperformance of Live and On-Demand Events" in North American, Europe, the Middle East and Africa, and Southeast Asia.
Informa shares rose 5.6% to 583.40 pence each in London on Monday morning.
By Tom Budszus; [email protected]
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