Informa lifts full-year guidance as demand improves

14th Nov 2022 07:58

(Sharecast News) - Informa lifted its full-year guidance on Monday as the events organiser pointed to an improvement in demand.

The company now expects full-year revenue of between £2.3bn and £2.35bn and adjusted operating profit of £490m to £505m. Previously, it had guided to revenues of £2.15bn to £2.25bn and adjusted operating profit of between £470m and £490m.

Informa hailed a "strong" outperformance in live and on-demand events in North America, EMEA and ASEAN, combined with continuing growth in academic markets.

The company said trading has remained strong through the second half of the year, with 10-month underlying revenue growth of 41% in its continuing businesses, reflecting further growth in academic markets and all three B2B markets businesses - Informa Markets, Informa Tech and Informa Connect.

Chief executive Stephen A. Carter said: "B2B market demand is growing across many industries and most geographies, with the current exception of China, which will provide incremental growth as it reopens. Informa and its brands are at the heart of this B2B market strength.

"Our four -year GAP 2 programme continues to deliver growth and acceleration within both academic markets and B2B markets. In addition, our divestment programme has completed ahead of schedule and with returns ahead of target, significantly strengthening our balance sheet and putting Informa in a strong position for further growth and investment in 2023."