Informa plc last week announced interim results for the 6 months ended 30 June 2008. Revenue increased 18 percent to £627.6 million. Renewal rates on subscription based publishing remain at a high level, consistent with previous years. Free replay of webcast.

Additional highlights:

• Organic revenue and organic adjusted* operating profit growth of 4%, to £77.7 million
• Interim Dividend increased by 9%
• Strong adjusted** cash conversion of 104%
• Strong growth in leading events held to date and future booking trends remain encouraging
• Broad portfolio of products and geographies creates platform for growth
• Trading continues to be strong and outlook for full year remains in line with the Board’s expectations

Commenting on current trading and prospects, Chairman Derek Mapp said, "We are pleased with the strong start we have made to the year. Our results are underpinned by the high volume of subscription income and the resilient performance of our branded large scale exhibitions and conferences. Having built a Group that has delivered market leading growth in recent years, we are delighted by how the same assets are performing in tougher economic conditions. Our ability to convert profits into cash remains extremely strong and we are trading well within our banking covenants.

Deferred income already recorded and our experience on booking trends and pipeline management gives us very good visibility of earnings. We remain confident of the Group’s full year prospects."

Visit the Informa web site for the complete financial results announcement, links to the replay of the webcast (recorded 28 July 2008; registration required), and additional information.

* Excludes restructuring and reorganisation costs of £3.0m (2007:£nil) and intangible asset amortisation of £59.4m (2007:£41.1m).

** Adjusted cash generated by operations (note 12) divided by adjusted operating profit.

» Story on Analyst Firm Website

» Comments   Digg this    del.icio.us Tweet This