Informa ups guidance after annual profits jump

8th Mar 2024 07:01

(Sharecast News) - Informa upped 2024 guidance on Friday after strong growth in overseas markets boosted full-year revenues and profits.

The specialist B2B events organiser and publisher saw revenues jump 41% in the year to December end to £3.19bn, while adjusted operating profit was £853.8m, compared to £496.3m a year previously.

Pre-tax profits surged £492.1m from £168.8m.

Informa attributed much of the growth to strong demand in overseas markets, including India, the Middle East and Africa.

Stephen Carter, chief executive, said the combined region was becoming "a material geographic growth engine alongside the Americas, China, ASEAN and Europe, and leads to updated 2024 guidance".

The FTSE 100 group, which said it had already generated revenues of more than £500m in the first quarter, now expects group revenues of between £3.45bn and £3.5bn in 2024. Adjusted operating profits are forecast to come in between £950m and £970m.

That compares to earlier guidance for revenues of between £3.43bn and £3.48bn and operating profits between £945m and £965m.

Informa said: "The macroeconomic environment remains varied across the world. Ongoing conflict and geopolitical uncertainty, combined with heightened inflation and higher interest rates, are impacting confidence and demand in some developed markets.

"This is balanced by continuing growth in other regions, where investment in innovation and economic diversification is driving expansion and commercial opportunities."

Carter added: "Informa's final results confirm further outperformance in 2023, and continuing momentum and growth in 2024."