logo-loader
Retail & consumerMedia
viewEuromoney Institutional Investor

Euromoney's profit rise, re-jigs research arm

Group sales rose by 3% £387mln as data and events made up for the asset management shortfall

Stock markets
Research revenues dropped over the past year

Euromoney Institutional Investor PLC (LON:ERM) has restructured its investment research business after a tough year for the division.

Sales in asset management, the largest of the financial information group’s divisions, dropped 4% to £151mln.

READ: Euromoney acquires Extel survey business from WeConvene for an undisclosed sum

A review of this business has taken out £7mln of costs out said Euromoney, while Institutional Investor is now largely a subscription, events and research operation.

Group sales rose by 3% £387mln as data and events made up for the asset shortfall, though Euromoney said generating the same revenue from events this year will be a challenge.

Underlying profits rose 3% to £109.2mln, though pre-tax profits were bolstered by the sale of Global Market Intelligence in April for £91mln and the absence of one-offs,

The dividend for the year rises 6% to 32.5p though the final payment was only increased by 2%.

Shares rose 2% to 1,248p.

Quick facts: Euromoney Institutional Investor

Price: 1394 GBX

LSE:ERM
Market: LSE
Market Cap: £1.52 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Block Energy completes critical phase of WR-38Z sidetrack

Headlines from Proactive UK newsroom. Block Energy (LON:BLOE) has completed a critical phase of the sidetrack programme at its WR-38Z well on the West Rustavi field in Georgia. New casing has been cemented through the build section of the well, which will prevent fluid incursion into the...

39 minutes ago

2 min read