Informa reports modest rise in annual revenue

21st Feb 2014 08:00

- Revenue and operating profit up- Global Events drive results- Statutory loss due to disposals - Total dividend raised 2.2 per cent Publishing and conference company Informa reported annual revenue growth of 1.5 per cent to 1.13bn pounds, driven by its Global Events division.Adjusted operating profit was up 1.5% to £335.5m in the year through December 2013. Global Events, which organises exhibitions, conferences, awards and public training courses, contributed 37% of revenues. Academic Publishing, which produces books and journals for university libraries, accounted for 32% of revenues.Business Intelligence, which provides information to a number of industries including healthcare, financial services, maritime, commodities, telecoms and insurance, contributed 31%.However, the group reported a statutory loss of £6.4m, compared to a £90.7m profit in 2012, reflecting the loss of discontinued operations which included the sale of five Corporate Training businesses and European Conferences firms in Spain and Italy.A total loss on disposal of £102.7m was recognised, including directly attributable costs of £11.1m, of which £99.3m has been recognised in discontinued operations, and £3.4m has been recognised within adjusting items. During the period the company also invested in the EBI pharmaceutical business and acquired a stake in exhibition group Baiwen in China and purchased conference firm EBD Group.The annual results marked the first under Chief Executive Stephen Carter, who took over on January 1st. "My initial sense is there are two over-arching challenges for the group," he said."The first is the shift in technology happening across our markets and amongst our customers, and the ongoing implications of that for all our products and businesses. Secondly, and more specifically, is returning the Business Intelligence division to growth after two years of organic revenue decline."He concluded: "For Informa, 2014 will be a year of measured change, operational focus and building a platform for the future growth of the group."Informa maintained its final dividend at 12.50p per share, bringing the total dividend to 18.90p, up 2.2% on the prior year.Shares rose 3.16% to 538.50p at 08:21 on Friday.RD