Informa Plc (LON:INF) shares got off on the front-foot on Tuesday as it revealed positive financial metrics for the first half of 2017, as it continued to integrate the acquired US-based Penton business.
The media, intelligence and events group revealed positive revenue growth, up some 3.7% on an underlying basis and 41.3% higher for reported revenue for the six months ended June 30.
Adjusted operating profit was up 1% underlying, 41% reported whereas earnings per share improved by 12.7% to 24p. Statutory operating profit amounted to £182.2mln, up 28.7% compared to the first half of last year.
The company improved its dividend by 6.2%, paying 6.65p per share for the first half.
"The Informa Group continues to make steady operational and financial progress in the fourth year of our acceleration programme, whilst effectively integrating US-based Penton Information Services ahead of plan,” said Stephen Carter, Informa Group chief executive.
“Our increased Balance and Breadth, improving operational fitness and the benefits of consistent product investment give us confidence that we will meet our financial and operational targets for 2017, including further growth in revenue, earnings, cashflow and dividends."
Informa shares rose 43p or 6.37% in Tuesday’s early deals to change hands at 718p each.
Separately, the company announced it has sold off the majority of Euroforum, its German / Swiss conference business, in a deal with Verlagsgruppe Handelsblatt GmbH that valued the unit at around €15mln.