(Alliance News) - Informa PLC on Wednesday reconfirmed its guidance for 2021 as its trading continued to improve.
The London-based publishing company said it expects to report revenue of GBP1.80 billion and adjusted operating profit of GBP375 million. In comparison, Informa posted revenue of GBP1.66 billion and adjusted operating profit of GBP267.8 million in 2020.
Informa reported strong growth in the year-to-date in subscriptions-led businesses and building momentum across its three B2B markets businesses - Informa Markets, Informa Tech and Informa Connect.
The company said more than 250 "face-to-face/smart" events held so far in 2021, with trends in participation, performance and re-bookings steadily improving. Informa's 'Smart Events' mix online and in-person attendance.
"We will complete the 2021 transition year in a stronger place than we anticipated at the start of the year and are now single-mindedly focused on growth and acceleration through to 2024," said Chief Executive Stephen Carter.
Informa confirmed the divestment of building projects provider Barbour ABI and investment adviser Asset Intelligence, following on from the divestment of Barbour EHS to Marlowe PLC earlier in 2021 for a net cash consideration of GBP32 million.
In addition, the company has hired Zheng Yin as a non-executive director, saying the Chinese national brings significant senior executive experience in Asia through his current role as executive vice president China at Schneider Electric SE.
Informa also said it has promoted Mary McDowell to senior independent director.
FTSE 100-listed Informa shares were trading 3.5% lower in London on Wednesday morning at 504.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Marlowe (MRL)
Informa (INF)