Informa posts profit growth for first half

Exhibitions, events and information services group Informa reported a jump in first-half profit on Wednesday as revenue grew and the company said it was "performing to plan" across the business.

In the six months to the end of June, adjusted pre-tax profit rose to £377.8m from £264.7m, with underlying revenue up 3.4% at £1.41bn. The group lifted its dividend per share to 7.55p from 7.05p in the same period a year ago.

In Informa Markets, there was continued "good" growth, with revenue up 4.4% on an underlying basis to £752.9m, while Informa Connect saw revenue rise 2.1% to £111.7m amid a focus on branded conferences and events in life sciences and finance.

In Informa Tech, the company said the newly-formed market-facing business was performing well, ahead of seasonal uplift in the second half and the addition of IHS Markit's TMT portfolio. Revenues at the division were 1.1% higher on an underlying basis at £108.2m.

Revenue at Informa Intelligence ticked up 3.2% to £183m as a focus on subscriptions delivered strong renewals and steady new business momentum, while Taylor & Francis saw 1.8% growth to £251.8m thanks to solid subscription renewals and strong momentum in open access.

Chief executive Stephen A. Carter said: "A year on from the acquisition of UBM, the enlarged Informa Group is performing to plan, delivering a further period of growth in revenue, adjusted operating profit, free cash flow and dividends.

"Our advanced learning businesses remain resilient, our data, information and communities businesses are performing well, and despite previously identified headwinds in our fashion and Middle East businesses, we continue to grow consistently in events and exhibitions. This puts us on track to deliver our targets for 2019 and provides a strong foundation for consistent future growth and performance."

At 0808 BST, the shares were up 3.2% at 853.20p.