24th May 2019 07:35
LONDON (Alliance News) - Events & business media company Informa PLC on Friday said it remains confident of meeting full-year expectations despite ongoing macroeconomic uncertainty and geopolitical risk.
In the Markets unit, Informa said it saw a "strong" performance, as 11 of its top 30 events have "successfully" run in the first four months of the year. Informa said the Markets unit remains on track to deliver at least 4.5% underlying revenue growth.
Geographically, Informa said the Markets business traded strongly in North America and China, but experienced some "softness" in the Middle East.
The Connect conference division also delivered good performance in the year-to-date, Informa said, and is "well placed" to deliver its 2.5% underlying growth target in 2019.
Informa noted that the Connect division's portfolio of specialist branded conferences and events continues to trade well, with higher volumes expected in the second half.
In the Tech event unit, there was "encouraging" trading in the early months of 2019, as the business focused on establishing itself as a "unified" brand in the market. Informa expects this unit to deliver at least 2% underlying revenue growth across the year.
On Thursday, Informa announced it had inked an asset swap agreement with information services group IHS Markit to strengthen its market position in telecommunications, media & technology sector.
Under a portfolio management agreement, Informa will exchange its Agribusiness Intelligence portfolio for IHS Markit's portfolio of TMT brands.
Informa will contribute an additional USD30 million in cash to IHS Markit to reflect the larger earnings contribution from the IHS Markit business. The asset swap is expected to complete in two months.
On Friday, Informa said this agreement will extend and enhance the international reach of its Tech division through its strong presence in Asia and North America.
Turning to the Intelligence division, Informa said it saw steady improvements in this unit, with continued strong renewal rates. The company said the Intelligence business will remain focused on delivering further steady improvement in underlying growth through 2019, with a target of 3% for the year.
The performance of Informa's scholarly publishing business, Taylor & Francis, remains steady and consistent, the company said, and is expected to deliver "another year" of 2% underlying revenue growth.
"Informa has performed well through the first four months of the year, with steady trading across our enlarged portfolio of specialist international brands," said Chief Executive Stephen Carter.
"This leaves us well placed to meet our targets for 2019 and deliver a further year of growth in revenue, adjusted profit, earnings, cashflow and dividends," added Carter.
Informa will publish its half-year results on July 24.
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