Informa on track after 'solid' third quarter

21st Oct 2013 07:17

Informa, the FTSE 250 data publishing and events firm, said it is on track to hit expectations this year after a 'solid' third quarter with good performances from across each division.However, it warned that the recent strength of the sterling against the US dollar, euro and Brazilian real, has been "unhelpful" to its results. Nearly half of group sales are in US dollars or currencies closely aligned with the greenback.Informa, which recently exited its Corporate Training businesses, saw positive organic growth across the board during the first nine months of the year in spite of the absence of the Formobile exhibition in Brazil, which only takes place every two years. Group adjusted organic revenues increased by 1.1% during the first three quarters.Like-for-like (LFL) revenue growth in Academic Information was 4%, a slight pick-up from the half-year stage.Professional and Commercial Information LFL revenues fell 3.6% during the nine months (first half: -4.1%), partly due to the impact of "product pruning" last year. Events organic growth however slipped to just 1.3% (first half: +3.6%) because of the biennial exhibition in Brazil.BC