Informa firmer as it integrates Penton

International business intelligence, exhibitions, events and academic publishing group Informa posted its results for the 12 months to 31 December on Monday, reporting an improved operating performance and continued progress with its 2014-2017 growth acceleration plan, which the board said was supported by strong returns from acquisitions and favourable currency trends.

The FTSE 100 company’s revenue was up 11% year-on-year, at £1.35bn - with organic revenue growth at 1.6% - while its adjusted operating profit was up 13.8% at £416.1m.

Adjusted diluted earnings per share were 6.6% firmer at 42.1p, and Informa’s board confirmed growth of 4.3% in the total dividend to 19.3p.

Its free cash flow remained in line with the prior year at £305.7m, against £303.4m in 2015, while its balance sheet was described as “robust” with net debt-to-EBITDA at 2.6x, compared to 2.2x in 2015, with the 2016 figure including the £1.2bn Penton addition.

Statutory operating profit was lower at £198.8m, however, against £236.5m in the prior year.

“2016 was a steady and strong year for the group, where the business grew on all key financial measures, whilst expanding significantly in the US and investing substantially in its products,” said group chief executive Stephen A. Carter.

“This sets Informa up well for further progress in 2017.”

Carter said the current year would be characterised by “accelerated change” as Informa combined the newly-acquired Penton business with the group, and as it completed planned growth acceleration plan investments, reaping the benefits of its international scale and continuing to strengthen capabilities across the group.

“We saw clear and strong growth in [the] Global Exhibitions and Business Intelligence [divisions], alongside a consistent performance in Academic Publishing, despite continued softness in US books.

“In Knowledge & Networking, we continue our programme to increase focus on Branded Events within the key verticals of Finance, Life Sciences and TMT, whilst confirming today a strategic review of our five remaining domestic conference businesses.”