In its full year results on Thursday, the FTSE 250 financial information specialist said reported total revenue for the year to the end of September increased by 3% to £401.7mln, supported by the acquisitions of executive profiling platform BoardEx and mergers and acquisitions data company The Deal.
The group’s pricing business generated almost half of total revenue and saw underlying revenue growth of 4%, which also helped boost adjusted operating profit 5% to £105.4mln.
However, this was dented by “structural and cyclical issues” that continued to batter its asset management segment, which accounts for a third of revenues and declined by 4% in the year ending in September.
Euromoney said that its strategic review of the ailing division, which is currently being held for sale, is “progressing well” after beginning in September.
Andrew Rashbass, chief executive, said that the period saw a “continuation of recent trends in our businesses, with good momentum for our pricing, data and market intelligence products offset by conditions in asset management markets”.
Weakness in the segment is expected to continue into 2020, but the company says that this should be accompanied by good growth in pricing.
Broker Peel Hunt commented on the results, saying that “an imprecise outlook comment lacks relevance given the transformational impact the strategic review of the asset management division may have”.
Analysts added that it should become clear “early next year” what the potential value the market may pay for Euromoney’s asset management division.
The dividend per share also rose 2% to 33.1p for the full year.
Shares were little moved, up 0.3% at 1,316p in Thursday morning trading.