MEDIA group Informa’s cost cutting measures cushioned the worst effects of the tough trading conditions it faced in the last year.
The firm, which holds conference events and publishes academic material, said bookings for large exhibitions were improving after a drop in demand during the recession.
Its revenue fell organically by 14 per cent in 2009, partly because it decided to cut the volume of smaller, less profitable events it runs.
Sales were £1.22bn, slightly below analysts’ expectations of £1.25bn and adjusted operating profit fell 12 per cent organically to £309.5m
But adjusted diluted earnings per share rose one per cent to 34.3p, buoyed by a tax credit of £68.2m.
Informa also said it would pay a second interim dividend of 7.85p, bringing the 2009 total to 11.45p.
Chief executive Peter Rigby said “small bolt-on acquisitions” were possible.