Euromoney pre-tax interims slump; underlying earnings solid

Euromoney Institutional Investor said interim pre-tax profits fell 59%to £49.3m due to a gain on the sale of its Dealogic stake in 2017 that lifted the previous year's figures.

After stripping out exceptional items, adjusted pre-tax profit rose to £46.1m from £45.6m a year before. On an underlying basis, adjusted pretax profit grew 13%.

Revenue fell 2.2% to £184.9m. The company said it expected to deliver full-year profit in line with expectations.

The interim dividend was lifted to 10.8p a share from 10.2p a year earlier.