Euromoney predicts record profit

City A.M. Reporter
Financial information group Euromoney said it expected to make record pretax profit this financial year after advertising and delegate numbers to its events recovered, lifting its shares on Friday.

The first of the professional publishing and events groups to report this quarter, Euromoney said growth in subscription revenues had also picked up and it expected headline sales growth of 3 percent for the year to end-September.

Euromoney, a unit of newspaper group Daily Mail & General Trust, sounded more upbeat than bigger rivals Reed Elsevier and, pointing to possible higher growth for the sector.

"The good performance of the advertising-driven businesses, and the continued increase in the rate of growth in subscription revenues, has driven a strong trading performance in September, traditionally the most profitable month," Euromoney said.