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(Sharecast News) - Publishing and exhibitions group Informa reiterated full-year guidance on Thursday after witnessing "strong" revenue and adjusted profit growth throughout the six months ended 30 June.
Informa stated interim revenues had grown 59.1% year-on-year to £1.09bn, reflecting strong growth in academic markets, business-to-business digital services, and continued return of live and on-demand B2B events.
Interim adjusted operating profits surged 226.6% to £234.5m, driven by strong revenue growth and effective cost management, while statutory operating profits came to £90.9m - a marked improvement when compared to the prior year's £55.4m first-half loss.
The FTSE 100-listed group, which resumed ordinary dividends at 3.0p per share for H1, also highlighted that full-year expectations had been reaffirmed at the "top-end of guidance", with revenues seen at £2.15bn-2.25bn and adjusted operating profits expected to be between £470.0m and £490.0m - above historical trends.
Chief executive Stephen Carter said: "We remain on track to achieve the upper-end of 2022 guidance, with good forward visibility in subscriptions, exhibitors, delegates, and digital services."
Separately, Informa revealed it had divested its Maritime Intelligence business for £385.0m, providing additional flexibility for shareholder returns, additional growth investment, and further targeted expansion, while also completing the group's Portfolio focus programme.
As of 0825 BST, Informa shares were down 1.56% at 591.60p.
Reporting by Iain Gilbert at Sharecast.com
