By Joe Hope
Informa PLC said Tuesday that it expects significant underlying revenue and adjusted operating profit growth in the first half, backed its full-year guidance and said it has acquired Industry Dive as part of its expansion plans.
The FTSE 100 events and academic-publishing group said that, for the first half, it expects underlying revenue to grow more than 40% to more than 1.05 billion pounds ($1.26 billion). Last year, it reported revenue of GBP688.9 million.
Adjusted operating profit is expected to jump more than 120% to exceed GBP220 million, the company said. Last year Informa posted an adjusted operating profit of GBP69.2 million.
The company reaffirmed its guidance for the full year issued in June, and said it expects results to be in the upper end of its guidance range. It had guided for revenue of GBP2.15 billion to GBP2.25 billion, and adjusted operating profit of GBP470 million to GBP490 million.
Alongside maintaining its GBP725 million share buyback, the company said it intends to resume interim dividends at 3.0 pence a share.
Informa also said it has acquired Industry Dive, a specialist content and audience development company for $389 million, to expand its business-to-business digital services offering and enhance growth, margins and earnings.
Write to Joe Hoppe at [email protected]
Credit: www.marketwatch.com /