| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: MEDIA |
Informa cautious after profits fall |
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By Rory Gallivan
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Tue 02 Mar 2010
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LONDON (SHARECAST) - Specialist publisher Informa said its outlook remains uncertain after tough economic conditions resulted in a fall in profits in 2009.
Pre-tax profits at the company, whose titles include the shipping newspaper Lloyd’s List, fell to £96.5m in the year to December 31 from £109m the previous year on revenues that slipped to £1.22bn from £1.28bn.
While publishing revenues were up by 2% on an organic basis, events and training sales fell by 27% as big customers cut back on costs, resulting in a 14% fall in organic revenues overall. The reduction in events and training sales was partly due to a pro-active decision to run fewer events, Informa said.
Staff numbers were reduced by 8% during the year, Informa said.
‘We remain cautious and are running our businesses accordingly,’ the company said.
‘However, Informa is in a stronger position than it was this time last year to deal with challenges and also benefit from the multiple opportunities available to the group.’
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