The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksERM.L Share News (ERM)

  • There is currently no data for ERM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Euromoney profits slump as Covid hits events arm

Thu, 20th May 2021 07:41

(Sharecast News) - Information services provider Euromoney Institutional Investor said first-half profit more than halved as the coronavirus pandemic hit its events business.
Pre-tax profits for the six months ended to March 31 fell 53% to £17.5m as revenue slipped 17% to £155.5m. The company declared an interim dividend of 5.7p per share.

Events revenue, which accounted for 17% of group revenue during the half, fell 60%, reflecting a reduction in physical events as Covid restrictions were imposed on large gatherings.

There was better news from subscriptions, which generated 73% of group revenue during the half, up 6% on a reported basis.

Looking ahead, events revenue in the second half was expected to be about £40m if physical events return, the company said.

"We expect physical events to return but the exact timing is uncertain, and it will vary by geography. In H2 2021 we are planning to host physical events though they will be regional and national rather than international events," the company said.

"However if physical events do not return, events revenue will be similar to H1 2021. We have identified cost mitigation measures to limit the impact of any cancellations on the FY 2021 profit outturn."

More News
8 Dec 2020 07:58

LONDON MARKET PRE-OPEN: Ashtead Holds Dividend, Sees FY Profit Beat

LONDON MARKET PRE-OPEN: Ashtead Holds Dividend, Sees FY Profit Beat

Read more
8 Dec 2020 07:47

Euromoney buys US-based WealthEngine for $14.5m

(Sharecast News) - Euromoney Institutional Investor has announced the acquisition of WealthEngine, a US SaaS platform providing data-driven intelligence and predictive analytics to wealth managers, luxury brands and not-for-profit organisations, for $14.5m.

Read more
26 Nov 2020 09:41

UK BROKER RATINGS SUMMARY: Goldman Cuts CRH; Morgan Stanley Lifts DCC

UK BROKER RATINGS SUMMARY: Goldman Cuts CRH; Morgan Stanley Lifts DCC

Read more
25 Nov 2020 11:45

Euromoney's Fastmarkets Selected For Cobalt Price Reporting By CME

Euromoney's Fastmarkets Selected For Cobalt Price Reporting By CME

Read more
19 Nov 2020 10:00

Euromoney Full-Year Profit Falls As Covid-19 Hits Event Revenue

Euromoney Full-Year Profit Falls As Covid-19 Hits Event Revenue

Read more
12 Nov 2020 15:55

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
22 Sep 2020 12:13

Euromoney Sees Profit Ahead Of Forecasts But Events Business Suffers

Euromoney Sees Profit Ahead Of Forecasts But Events Business Suffers

Read more
22 Sep 2020 08:05

Euromoney FY profit to top consensus expectations

(Sharecast News) - Euromoney said on Tuesday that pre-tax profit for the year to the end of September 2020 is set to be ahead of consensus expectations, thanks to strong cost management and a robust subscriptions performance.

Read more
21 Jul 2020 10:57

Euromoney Sees Revenue Decline But Hopeful On Resumption Of Dividends

Euromoney Sees Revenue Decline But Hopeful On Resumption Of Dividends

Read more
21 Jul 2020 07:58

Cancelled, postponed events dent Euromoney revenues

(Sharecast News) - Euromoney reported a decline in revenue on Tuesday as it took a hit from the cancellation and postponement of events due to the Covid-19 pandemic.

Read more
21 Jul 2020 07:57

LONDON MARKET PRE-OPEN: TalkTalk Revenue Down But Seeing Improvement

LONDON MARKET PRE-OPEN: TalkTalk Revenue Down But Seeing Improvement

Read more
14 Jul 2020 16:06

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
4 Jun 2020 11:59

LONDON MARKET MIDDAY: Stocks Nudge Down And Euro Lower As ECB Awaited

LONDON MARKET MIDDAY: Stocks Nudge Down And Euro Lower As ECB Awaited

Read more
4 Jun 2020 11:00

UK WINNERS & LOSERS SUMMARY: CyanConnode Surges As Contract To Resume

UK WINNERS & LOSERS SUMMARY: CyanConnode Surges As Contract To Resume

Read more
4 Jun 2020 10:10

Euromoney Revenue Up But Profit Takes Hit From Event Cancellations

Euromoney Revenue Up But Profit Takes Hit From Event Cancellations

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.