STRONG demand for events and training enabled business media group Informa to post organic nine-month revenue growth of 4.2 per cent and to confirm its full-year expectations yesterday.
The company, which publishes shipping guide Lloyd’s List and organises exhibitions and events, said yesterday it had continued to grow after it cut back on smaller and discretionary events during the downturn in 2008, leaving it with stronger key exhibitions in certain sectors.
Finance director Adam Walker said it would continue to look for acquisitions next year but if it fails to identify much of a pipeline it will instead look at ways to increase returns to shareholders.
“We’re not complacent but we’re very pleased with the results,” he said.
Much of Informa’s growth was driven by its events and training business, which posted organic revenue growth for the period of 5.2 per cent, which it said was slightly ahead of the expected full-year growth rate.
The exhibition division performed well with a strong performance from its new Brazilian printing show, an Australian furniture show and the Monaco Yacht show.
“Although the economic environment is uncertain, we have not seen any impact on current trading,” chief executive Peter Rigby said. “The group is generating organic growth across all three divisions, recent acquisitions are performing well and we remain on track to meet our expectations for the full year.”
Analysts welcomed the results and the resilience shown against the tough macro conditions. Informa shares rose more than three per cent on the news.
City A.M. Reporter