Informa PLC (LSE:INF) repeated its revenue and profit forecast for the full year as trading continued to improve across its operations and the easing of COVID-19 restrictions resulted in a return of physical events.
The business software company said in a statement that it still expects revenue of around £1.8bn and adjusted operating profit of £375mln for full-year 2021.
Informa chief executive Stephen A. Carter said: "We will complete the 2021 transition year in a stronger place than we anticipated at the start of the year and are now single-mindedly focused on growth and acceleration through to 2024."
Informa said its two subscriptions-led businesses, Informa Intelligence and Taylor & Francis, recorded 10-month underlying revenue growth of 6% and 2.5% respectively.
The group has raised its full-year growth expectations for Informa Intelligence from 4.5% to 6% for 2021 and to above 6% in 2022.
The relaxation of COVID-19 restrictions has meant a return of physical events and Informa said its B2B Markets business has held more than 250 face-to-face/smart events so far this year, including in all three major regions of North America, mainland China and the Middle East, with events also restarting in Europe.
In North America and EMEA, there has been a steady increase in participation and performance levels, with events matching or exceeding 2019 levels and the average performance being above 50%.
The three B2B Markets units, Informa Markets, Informa Connect and Informa Tech, are on track to achieve 7% revenue growth this year, the group said.
The group said it achieved its goal of being cash flow positive on a monthly basis from January 2021 and is tracking well ahead, with free cash flow of over £325mln expected in 2021.
Informa also said it appointed Zheng Yin, executive vice-president for China at Schneider Electric, as a non-executive director and Mary McDowell as a senior independent director.