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Informa exhibits confidence about trading but fails to provide much financial detail

“Informa has performed well through the first four months of the year, with steady trading across our enlarged portfolio of specialist international brands”

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Informa bought exhibitions rival UBM last year for almost £4bn

Informa PLC (LON:INF) exhibited confidence about meeting its full-year growth targets after a “steady” trading performance in the first four months of the year.

Ahead of its annual general meeting, the FTSE 100-listed events organiser and business-to-business publisher released a statement that was not heavy on financial detail, with no mention of the Accelerated Integration Plan that it launched after completing the £4bn takeover of rival UBM last summer.

READ: Informa confident of another year of underlying growth

Chief executive Stephen Carter said: “Informa has performed well through the first four months of the year, with steady trading across our enlarged portfolio of specialist international brands.

“This leaves us well placed to meet our targets for 2019 and deliver a further year of growth in revenue, adjusted profit, earnings, cashflow and dividends.”

With 11 of its major events in its largest Markets division having been run already, management are “confident" in the continued performance through the year towards a target of at least 4.5% underlying revenue growth, even though there was “ongoing softness” in the Middle East to offset continued strong trading in North America and China.  

Informa Connect’s events were said to have recorded good performances, with “pacing trends for the higher volume second half of the year on track”, and it is “well placed” for its full year target.

Informa Tech has delivered “steady” improvement in operating performance and growth, with an “encouraging” performance in the key months for subscriptions and our performance, while the Taylor & Francis academic publishing business was “steady and consistent” as it wends its way towards another year of at least 2% underlying revenue growth.

Quick facts: Informa

Price: 768.4 GBX

LSE:INF
Market: LSE
Market Cap: £9.61 billion
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