Informa reiterates FY guidance following 'strong' H1

19th Jul 2022 08:28

(Sharecast News) - Publishing company Informa reiterated full-year guidance on Tuesday following a "strong" first half for revenues.

Informa expects to report underlying revenue growth of more than 40% for the first half of 2022, reflecting continued strength in academic markets, a strong return in live and on-demand events, and progressive growth in B2B digital services.

Interim revenues were expected to be £1.05bn, while first-half adjusted operating profits were projected to be £220.0m, up from £688.9m and £69.2m a year earlier, respectively.

As a result, full-year expectations were reaffirmed at the top-end of its previous guidance range of £2.15bn-£2.25bn in revenues and £470.0m-490.0m in adjusted operating profits, underpinned by "strong forward visibility and commitments".

Informa also highlighted that ordinary dividends will resume alongside its interim results at 3.0p per share.

Separately, Informa revealed it had acquired business-to-business content and lead generation business Industry Dive for $389.0m in cash as part of an effort to further expand its digital services offering.

Informa said Industry Dive was on track to deliver further strong growth in 2022, with revenues expected to be roughly $110.0m and underlying earnings projected to be approximately $34.0m.

Chief executive Stephen A Carter said: "Informa has delivered strong first-half revenues and growing profitability as we continue to deliver on our GAP II programme.

"Our improving performance enables us to embark on further market and geographic expansion, including the acquisition today of Industry Dive which further enhances our B2B Digital Services portfolio."

As of 0935 BST, Informa shares were up 4.17% at 559.40p.

Reporting by Iain Gilbert at Sharecast.com