CORRECT: Informa Maintains Full-Year Guidance After Solid Quarter

Tue, 21st Apr 2015 07:33

(An item published at 0735 BST misstated the revenue growth. The correct version follows.)

LONDON (Alliance News) - Publishing and events company Informa PLC Tuesday said it is maintaining its full year guidance after a solid trading performance in the first quarter.

The FTSE 250-listed company said underlying growth in the first quarter to the end of March was solid, though including one-off non-annual events and the planned movement of events between quarters, revenue fell 0.5%.

The group said the underlying trends in its academic publishing business remain robust, with the integration of the Medical Journals business on track. It added the performance of its business intelligence unit has stabilised amid a focus on customer and subscription management in the division under Informa's 2014-2017 Growth Acceleration Plan.

In the Knowledge & Networking business, underlying trading is in line with expectations, with strong performances in the UK and the US offset by ongoing weakness in the Russian market. Informa said trading in the business is on track, with low single-digit like-for-like revenue declines in the first quarter, though headline revenue is down around 10% owing to the planned re-scheduling of two events to the second quarter.

In its Global Exhibitions division, Informa said it is encouraged by the performance of the US businesses it acquired in 2014 but reiterated that headline growth in the unit has been boosted by the movement of certain events from the second to the first quarter. Overall, first quarter organic growth in the Global Exhibitions business hit 15.6% on the back of these effects.

"We have started the year in line with our Growth Acceleration Plan objectives for 2015 and remain confident of meeting expectations for the full-year. Both Academic Publishing and, in particular, Global Exhibitions are well placed to continue to grow attractively. Our Business Intelligence and Knowledge & Networking businesses are progressing to plan," said Informa Chief Executive Stephen Carter.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Informa