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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Wednesday 26 March, 2014

Euromoney Ins.InvPLC

Euromoney: Trading Statement

RNS Number : 1878D
Euromoney Institutional InvestorPLC
26 March 2014



 MARCH 26, 2014


Euromoney Institutional Investor PLC ("Euromoney"), the international online information and events group, today issues a pre-close trading update ahead of the announcement of its results for the half year to March 31, 2014.  



Since issuing its Interim Management Statement (IMS) on January 30, trading has continued in line with the board's expectations.  As highlighted in that statement, trading conditions have remained challenging, particularly in the banking sector where the pressure from increasing regulation and demands for tougher capital ratios, combined with further litigation and financial penalties, have caused global financial institutions to continue to maintain tight control over their costs.


Total revenues for the six months to March 31, 2014 are expected to show a headline increase of approximately 5% on 2013, and underlying growth excluding acquisitions of approximately 2%.  The underlying revenue trends reported for the first quarter have largely continued into the second quarter for subscriptions and advertising, while underlying event revenues increased by approximately 15% in the second quarter due to a combination of new events and favourable timing of biennial events.  The first half underlying revenue trends at constant currency are approximately two percentage points stronger.


As highlighted in the IMS, the recent strength of sterling against the US dollar started to have an impact on the translation of overseas profits in the second quarter and is expected to have a more significant impact in the second half of the year.  The current exchange rate of $1.65 compares to a rate of $1.53 in the second half of last year, and each one cent increase in the average US dollar rate reduces operating profits by approximately £0.6 million on an annualised basis.


The group expects to announce an adjusted profit before tax* of not less than £52 million for the six months to March 31, 2014 (2013: £52.4 million).  The first half adjusted operating margin is expected to be approximately two percentage points lower than last year due to the group's continued strategic investment in digital publishing including the new Delphi content platform which went live during the period.  


Financial Position

At current exchange rates, group net debt at March 31, 2014 is expected to be no more than £35 million, against £9.9 million at September 30, 2013.  The increase in debt since the year end reflects the £12.5 million acquisition of Infrastructure Journal; the payment of a final dividend for financial year 2013 of £19.9 million; a cash payment including taxes of £9.1 million following the vesting of awards under CAP 2010, the group's long-term incentive plan; and £14.6 million spent buying in 1.2 million of the Company's own shares to be held to satisfy future rewards under CAP 2014.  As usual, the group's operating cash flows are expected to be weighted towards the second half.


Next Trading Update

The half year results will be announced on the morning of May 15, 2014, followed by an analyst presentation and investor meetings.


* Adjusted profit before tax is profit before tax, acquired intangible amortisation, exceptional items, movements in acquisition deferred consideration, and net movements in acquisition commitment values.


Richard Ensor






Further information

Euromoney Institutional Investor PLC:

Richard Ensor, Chairman                                  +44 20 7779 8845; [email protected]

Christopher Fordham, Managing Director        +44 20 7779 8057; [email protected]

Colin Jones, Finance Director                           +44 20 7779 8666; [email protected]


FTI Consulting:

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


Note to editors

Euromoney Institutional Investor PLC ( is listed on the London Stock Exchange and is 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 owns more than 70 brands including Euromoney, Institutional Investor and Metal Bulletin, and is a leading provider of economic and investment research and data under the BCA Research, Ned Davis Research and ISI Emerging Markets brands.  It also runs an extensive portfolio of conferences, seminars and training courses for financial markets.  The group's 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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