31st Jan 2008 07:00
Euromoney Institutional InvestorPLC31 January 2008 January 31, 2008 EUROMONEY INSTITUTIONAL INVESTOR PLC INTERIM MANAGEMENT STATEMENT FOR THE PERIOD TO JANUARY 31, 2008 Euromoney Institutional Investor PLC ("Euromoney"), the internationalpublishing, events and electronic information group, today issued its InterimManagement Statement for the period from October 1, 2007 to January 31, 2008. There have been no material events or transactions in the period other than theinformation contained in this Interim Management Statement. Since reporting its 2007 results on November 15, 2007, trading has continuedin line with the board's expectations. Revenues for the quarter to December31, 2007 increased by 6% to £75 million. Net debt at December 31, 2007 was£191.6 million against £204.6 million at year end, reflecting strong cashflows. Euromoney's strategy has been to develop a portfolio of complementarybusinesses built around leading international brands serving a number of globalbusiness sectors across all geographies. Over the last five years the group hasfocused on growing its subscription-based products, particularly in electronicpublishing. In 2007, subscriptions accounted for more than a third of annualrevenues, the group's largest revenue stream, and continued to achieve strong growth rates in the first quarter of this financial year. In addition, delegaterevenues from training and events, traditionally a leading indicator of adownturn, have so far proved resilient to the difficult markets. As expected, there have been some signs of slowing in advertising and sponsorship sales,particularly from the global financial institutions most affected by theproblems in the credit markets. In contrast, emerging markets, which account fora significant part of the group's revenues, remain in good health. Revenuevisibility is similar to this time last year and in line with the board'sexpectations. The group remains focussed on investing to grow the business, increasingrevenues from high quality subscription-based products, particularly electronicinformation services, reducing its dependence on advertising and maintaining ahigh margin. This strategy has helped the group to reduce its dependence onfinancial markets, leaving it more geographically diverse and better placedthan ever to face the challenges of current markets. Padraic Fallon Chairman January 31, 2008 Analyst and investor seminar Euromoney is holding an investor seminar today to provide an overview of theEuromoney group with detailed presentations from the management of three ofits most important and fastest growing businesses: BCA Research; ISI, theemerging markets information service; and Institutional Investor Memberships.There have been no material events or transactions in the period other thanthose contained in this Interim Management Statement and the presentations willnot include any additional update on current trading or material new financialinformation. END For further information, please contact: Euromoney Institutional Investor PLC Padraic Fallon, Chairman: +44 20 7779 8556; [email protected] Colin Jones, Finance Director: +44 20 7779 8845; [email protected] Richard Ensor Managing Director +44 20 7779 8845; [email protected] Financial Dynamics Charles Palmer: +44 20 7269 7180; [email protected] NOTE TO EDITORS About Euromoney Institutional Investor PLC Euromoney Institutional Investor PLC is listed on the London Stock Exchange anda member of the FTSE-250 share index. It is a leading internationalbusiness-to-business media group focused primarily on the international finance,metals and commodities sectors. It publishes more than 70 magazines, newslettersand journals, including Euromoney, Institutional Investor, and Metal Bulletin.It also runs an extensive portfolio of conferences, seminars and trainingcourses and is a leading provider of electronic information and data coveringinternational finance, metals and emerging markets. Its main offices are inLondon, New York and Hong Kong and approximately half its revenues and profitsare managed from the United States. Visit our website at www.euromoneyplc.com This Interim Management Statement is prepared for and addressed only to thegroup's shareholders as a whole and to no other person. The group, itsdirectors, employees, agents or advisers do not accept or assume responsibilityto any other person to whom this Interim Management Statement is shown or intowhose hands it may come and any such responsibility or liability is expresslydisclaimed. Statements contained in this Interim Management Statement are basedon the knowledge and information available to the group's directors at the dateit was prepared and therefore the facts stated and views expressed may changeafter that date. By their nature, the statements concerning the risks anduncertainties facing the group in this Interim Management Statement involveuncertainty since future events and circumstances can cause results anddevelopments to differ materially from those anticipated. To the extent thatthis Interim Management Statement contains any statement dealing with any timeafter the date of its preparation such statement is merely predictive andspeculative as it relates to events and circumstances which are yet to occur.The group undertakes no obligation to update these forward-looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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