Informa lifts full-year profit and revenue guidance

15th Jun 2023 07:14

(Sharecast News) - Events organiser Informa lifted its full-year profit and revenue outlook on Thursday, citing strong performances in all businesses, with revenue now expected to exceed pre-Covid levels.

Pointing to "strong underlying performances combined with portfolio additions", the company upped its adjusted operating profit guidance by 10% to between £750m and £790m, while revenue guidance was boosted 7% to between £2.95bn and £3.05bn.

In the first five months of the year, Informa said group underlying revenue grew 24.5%, reflecting growth in Academic Markets and further strong growth in B2B Markets, including strong performances from all three B2B businesses.

"Our strong underlying performance and good forward visibility on both volumes and value gives us confidence in a strong outcome in 2023 and continuing momentum into 2024," the company said.

"Combined with the addition of B2B businesses, Tarsus and Winsight, both of which have traded strongly since being acquired, we expect to deliver 2023 results significantly ahead of the guidance we set in March, with adjusted operating profits expected to be circa 10% higher."