26th Sep 2007 07:00
Euromoney Institutional InvestorPLC26 September 2007 26 September 2007 EUROMONEY INSTITUTIONAL INVESTOR PLC PRE-CLOSE PERIOD TRADING UPDATE Euromoney Institutional Investor PLC (the 'Company') has today issued itspre-close trading update ahead of the announcement of its results for the yearto September 30, 2007. Trading in the second half, including the key month of September, has continuedthe encouraging trend seen in the first. The Company has benefited from strongorganic growth across all its divisions and revenue streams and as a result theboard now expects to announce an adjusted profit before tax* of not less than£60 million for the year to September 30, 2007, ahead of market expectations. Metal Bulletin, acquired in October 2006, has been fully integrated within thegroup, and the synergies generated from the acquisition continue to exceedexpectations. Net debt at September 30, 2007 is expected to be less than £210million, reflecting the strong operating cash flows of the business. The achievement of an adjusted profit before tax* of not less than £60 millionmeans that the target of £57 million under the Company's Capital AppreciationPlan will be reached in 2007, a year earlier than expected. The recent turmoil in the credit markets has had very little impact on thegroup's trading in the fourth quarter, and current trading is in line with theboard's expectations. The year end results will be announced on the morning of November 15, 2007,followed by an analyst presentation and investor meetings. * Adjusted profit before tax is profit before tax, acquired intangibleamortisation, share option expense, exceptional items, net movement inacquisition option commitments and imputed interest on acquisition optioncommitments. END NOTE TO EDITORS Euromoney Institutional Investor PLC is listed on the London Stock Exchange anda member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals andcommodities sectors. It publishes more than 70 magazines, newsletters andjournals, including Euromoney, Institutional Investor, and Metal Bulletin. Italso runs an extensive portfolio of conferences, seminars and training coursesand 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. For further information, please contact: Euromoney Institutional Investor PLC Padraic Fallon +44 20 7779 8556; Chairman [email protected] Richard Ensor +44 20 7779 8845; Managing Director [email protected] Colin Jones +44 20 7779 8845; Finance Director [email protected] Financial Dynamics +44 20 7269 7180; Charles Palmer [email protected] Or visit our website at www.euromoneyplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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