Informa improves revenue and earnings, cash flow slows

28th Jul 2016 07:54

(ShareCast News) - Publishing and events company Informa posted its interim results for the six months to 30 June on Thursday, describing "accelerating organic revenue growth" of 2.5%, against 0.2% in in the first half of 2015 and 1.0% in the 2015 fiscal year.The FTSE 100 firm reported revenue 4.7% higher at £647.7m, against £618.8m at the same time last year, with adjusted operating profit improving 6.3% to £202.2m against £190.3m.Informa made a higher statutory operating profit of £141.6m, up 8.6% from £130.4m, as adjusted diluted earnings per share grew 3.1% to 23.1p from 22.4p.The company's board declared an interim dividend up 4% to 6.80p.On the balance sheet, the board said it was "robust" with a "secure pension position" and gearing of 2.4x, in line with last year.It retained what it called strong underlying free cash flow, on track for its full year projections - its first-half phasing with £20m Growth Acceleration Plan investment was £67.7m, although that was down significantly from £116.4m in the first half of 2015."Informa continues to deliver operational and financial progress as investment activity peaks in year three of the Growth Acceleration Plan," said group chief executive Stephen Carter."Our focus on delivery, combined with the scale benefits of our US expansion programme, gives us confidence we can again meet our full-year targets, including a third year of revenue growth and improved adjusted earnings."