Informa PLC (LSE:INF), the global exhibition group, delivered a bullish message ahead of its AGM reiterating full-year guidance and double-digit sales growth.
Stephen Carter, chief executive, said: “The Informa Group has changed gears and we are now delivering 10%+ growth.”
“Our strategy to focus on specialist markets, unique content and internationalisation is delivering double-digit underlying revenue growth, margin expansion and increasing profits and cash flows.”
Underlying revenue growth in the first five months of the current year was 10.1%, he added, reflecting strong operational performances across all businesses;
Revenues year to date are about £1.4bn with a further £1bn of subscriptions/exhibitor revenue committed and visible in 2024, and strong events rebooking into 2025, said the statement.
Carter added the group is also on track for £720 million of free cash flow in 2024, while its adoption of AI technology has been expanded to include a non-exclusive Partnership and Data Access Agreement with major AI/Large Language Model buyers.
The proposed combination of Informa Tech's Digital Businesses with NASDAQ-listed TechTarget is on track to be completed in the fourth quarter.
For the full year, Informa reiterated it expects high single-digit underlying revenue growth, with the total to between £3.45-3.5 billion.
Group adjusted operating profit is guided at between £950 million to £970 million.
Shares rose by 0.6% to 864.8p.