Euromoney expects drop in revenues to continue
Financial publishing and events group Euromoney said yesterday that revenues for the quarter to end-June fell 22 per cent at constant currencies, and predicted further declines in subscription revenues for the rest of the year.
The company, majority-owned by Daily Mail & General Trust (DMGT) – which is due to report today – highlighted customer budget cuts and tight cost controls, and warned that things would get worse before they got better.
Subscription revenues from Euromoney’s print and electronic publications, which include Euromoney Magazine, were flat at constant currencies. Advertising, sponsorship, delegates and other revenues all fell in the company’s third quarter.
Total revenues were £84.2m, a headline decrease of 11 per cent as the sterling-dollar rate flattered the reported numbers.