Business intelligence and events group Informa posted a major growth in revenue this morning, as preparations get underway for its £3.9bn takeover of UBM.
Revenue jumped over 30 per cent to over £1.7bn, with growth across all four sections: exhibitions, business intelligence, academic publishing and networking events.
Adjusted profit before tax grew by almost 30 per cent to £486.4m.
The annual dividend was nudged up to 20.45p per share.
Shares were up 0.3 per cent in early trading at 688.2p.
Why it's interesting
The biggest growth in revenue was in global exhibitions, with revenue up 75 per cent due to the integration of several acquisitions including Pentin Information Services and Yachting Promotions.
The group is set to continue on its acquisitive streak, tying up a deal with conference company UBM. The prospectus for the merger is due for publication next month.
Liberum analyst Ian Whittaker said consensus upgrades are likely, not just due to today's numbers but because UBM's recent events performance looks better than expected.
Read more: Informa has agreed a £3.9bn deal for UBM
What Informa said
Stephen A. Carter, group chief executive, said: "2017 was a year of performance and delivery, with all four divisions in growth, the integration of Penton Information Services achieved ahead of plan and our four-year acceleration programme delivered on budget and on schedule."
He added: "Our investments over the last four years have helped build operational capability for continued growth and scale in 2018 and beyond."