24th Jul 2019 08:14
(Alliance News) - Informa PLC on Wednesday reported sharp growth in interim profit and revenue following the completion of its Accelerated Integration Plan, which combined the portfolio of UBM with the company's own portfolio.
In the six months to June 30, the events and publishing company recorded GBP232.8 million pretax profit, nearly double the GBP118.7 million reported the year before.
Informa's revenue jumped 47% in the first half to GBP1.41 billion from GBP957.1 million the year before.
The company said its 12-month programme to effectively integrate UBM is now complete.
"A year on from the acquisition of UBM, the enlarged Informa Group is performing to plan, delivering a further period of growth in revenue, adjusted operating profit, free cash flow and dividends," said Chief Executive Stephen Carter.
Informa upped its interim dividend by 7.1% to 7.55 pence compared to 7.05p the year before.
The company's five main operating units all saw growth in the half. Informa Markets seen revenue rise 8.4% year on year to GBP752.9 million. Informa Connect saw an 8.0% rise to GBP111.7 million.
Informa Tech recorded 5.7% revenue growth to GBP108.2 million, with Informa Intelligence seeing revenue rose 8.9% to GBP183.0 million. Finally, Taylor & Francis revenue was seen 5.6% higher to GBP251.8 million.
Carter added: "Our Advanced Learning businesses remain resilient, our Data, Information and Communities businesses are performing well, and despite previously identified headwinds in our Fashion and Middle East businesses, we continue to grow consistently in Events & Exhibitions. This puts us on track to deliver our targets for 2019 and provides a strong foundation for consistent future growth and performance."
Shares in Informa were 4.5% higher in London in early trading on Wednesday at 864.20 pence each.
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