Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Euromoney Ins.InvPLC (ERM)

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Friday 25 March, 2011

Euromoney Ins.InvPLC

Pre-close Trading Update

RNS Number : 6026D
Euromoney Institutional InvestorPLC
25 March 2011





March 25, 2011


Euromoney Institutional Investor PLC ("Euromoney"), the international publishing, events and electronic information group, today issues a pre-close trading update ahead of the announcement of its results for the half year to March 31, 2011.  


As highlighted in the Interim Management Statement ("IMS") issued on January 20, 2011, after strong revenue growth in 2010, revenue comparisons have become much tougher since the start of the second quarter of the current financial year.  As expected, subscriptions, advertising and sponsorship revenues have all continued to grow at slower rates than those achieved in the first quarter.  Headline delegate revenues are expected to show a year-on-year decline in the second quarter, but only because of timing differences on events.  


For the half year to March 31, 2011, Euromoney expects to announce an adjusted profit before tax* of not less than £40 million (2010: £40.1 million).  As highlighted in January's IMS, the revenue growth achieved in the first half is being offset by a number of factors: an increase of approximately £4 million in long-term incentive expense relating to the shortening of the accrual period for the group's Capital Appreciation Plan; the absence of one-off cost savings of £2 million included in 2010's first half results; and a reduction in the adjusted operating margin of approximately two percentage points as a result of the group's continued investment in technology and new electronic information services as part of its strategy to drive long-term revenue growth.


At current exchange rates, group net debt at March 31, 2011 is expected to be no more than £110.0 million, down from £128.8 million at September 30, 2010.  There have been no significant capital outflows in the first half and the reduction in net debt largely reflects the continued strong operating cash flows of the group.  In addition, dividend, tax and incentive payments are weighted towards the first half of the financial year, and cash flows in the second half are traditionally stronger than the first.  


Sales trends over the past three months have been broadly positive, particularly for the events businesses for which the third quarter is the most important of the year.  However, delegate sales for the training business have struggled to achieve year-on-year growth over this period, partly due to the reluctance of customers to commit training budgets in view of the generally uncertain economic outlook, and partly due to the unrest in the Middle East, a key market for this business.  


Overall trading remains in line with the board's expectations.


The half year results will be announced on the morning of May 19, 2011, followed by an analyst presentation and investor meetings.



* Adjusted profit before tax is profit before tax, acquired intangible amortisation, exceptional items, non-cash movements in acquisition option commitment values, foreign exchange losses on restructured hedging arrangements and foreign exchange losses on tax equalisation swap contracts.


Padraic Fallon


March 24, 2011





For further information, please contact:


Euromoney Institutional Investor PLC

Padraic Fallon, Chairman:             +44 20 7779 8556; [email protected]

Colin Jones, Finance Director:      +44 20 7779 8845; [email protected]

Richard Ensor, Managing Director:  +44 20 7779 8845; [email protected]


Financial Dynamics

Charles Palmer:                           +44 20 7269 7180; [email protected]




Euromoney Institutional Investor PLC ( is listed on the London Stock Exchange and a member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It publishes more than 70 magazines, newsletters and journals, including Euromoney, Institutional Investor, and Metal Bulletin. It also runs an extensive portfolio of conferences, seminars and training courses and is a leading provider of electronic information and data covering international finance, metals and emerging markets. Its main offices are in London, New York, Montreal and Hong Kong and more than a third of its revenues are derived from emerging markets.

This information is provided by RNS
The company news service from the London Stock Exchange

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