Information  X 
Enter a valid email address

Informa plc (INF)

  Print      Mail a friend       Annual reports

Thursday 15 May, 2014

Informa plc

Interim Management Statement

Interim Management Statement

PRESS RELEASE

15 May 2014

Informa plc

Interim Management Statement

Full year outlook unchanged

Group trading in line with expectations

Informa plc ("Informa" or the "Group"), is releasing an interim management statement providing an update on the performance of the Group since the 31 December 2013 year-end, based on the results for the four months ended 30 April 2014, with comments reflecting trading up until the date of this release.

Trading Highlights

  • Global Eventsgrowing strongly, driven by large events, with some conference markets still soft
  • Academic Publishing delivering steady growth, in line with expectations
  • Business Intelligence trading remains challenging, with our performance across verticals variable and inconsistent

Operational Fitness: Key Elements

  • Operational Simplification…eg Return of Group headquarters to the UK
  • Portfolio Simplification…eg Merger of Ovum and ITM businesses into one operating unit
  • Acceleration of Group Services…eg Consolidation into a single Pan-Euro Shared Service Centre
  • International Market Expansion…eg Creation of a trading centre for Asia in Shanghai

Stephen A. Carter, Group Chief Executive, said:

"Across the Group, our performance to date reflects a continuation of many of the trends we highlighted at the time of the full year results and the Board's expectations for 2014 remain unchanged. Two of our divisions, Academic Publishing and Global Events, are trading well, providing a strong operating base for The Informa Group. However, Business Intelligence continues to prove challenging. Key end markets remain unhelpful but we also recognise the need, as previously indicated, to better understand our market positioning, core capabilities and operating structure."

He added:

"The Group remains focused on managing a smooth and effective transition in 2014. In driving Operational Fitness across the Group, we have begun to identify a number of initiatives to reduce the complexity of business structures and reporting lines, and to drive greater focus and efficiency."

The Group delivered organic revenue growth of 0.6% across the first four months of 2014, in line with the Board's expectations. At a reported level, the strength of sterling against the US dollar continues to have a significant effect, with every one cent movement impacting revenue by circa £3.2m and adjusted operating profit by circa £1.4m.

Global Events: Our events business has had a strong start to the year, delivering 3.5% organic growth through the first four months. Over this period, our Large Event Portfolio has performed well across different sectors, including Healthcare (Arab Health), Industrials (Middle East Electricity), Financial Services (SuperReturn), Beauty (Anti-Aging World Congress) and Print & Publishing (IPEX), although structural challenges in the Print Industry led to a significantly smaller IPEX exhibition than its previous edition in 2010.

A feature of the Global Events division in 2014 is that a number of our Large Event brands are scheduled to take place later in the year compared to 2013, which will impact the pattern of quarterly organic growth. In May, we ran the recently acquired, China Beauty Expo, in Shanghai, which performed well, ahead of our acquisition plan.

Some conference markets, particularly Continental Europe and Russia, continue to dilute the overall growth profile of Global Events but we remain confident on the performance of the division in 2014.

Academic Publishing: Our Academic division has had a steady start to 2014, recording organic growth of 3.2% in the first four months of the year. As previously indicated, growth at the start of the year is at a lower run rate than the exit from 2013, when the business benefited from a high volume of orders from online retailers. As anticipated, this phasing benefit has evened out in the early part of 2014. Prospects for the remainder of the year remain in line with the Board's expectations.

Business Intelligence: Organic revenue declined 5.6% across the first four months of the year, extending the challenging trends seen through the majority of 2013. Key end markets remain subdued, but we also recognise the need to better understand our positioning within verticals and our core capabilities across products and platforms.

Operating performance across the different verticals was varied. Within Pharma and Financial, there was evidence of stabilisation in some areas, although this was offset by ongoing weakness in others. Maritime has performed steadily, and there was some short-term impact in TMT from the integration activity associated with merging our two information and consultancy businesses, Ovum and ITM, into a single operating unit.

Enquiries

Informa plc

Stephen A. Carter, Group Chief Executive

+41 (0) 41 444 1341

Gareth Wright, Deputy Finance Director

+44 (0) 20 7017 7096

Richard Menzies-Gow, Investor Relations

+44 (0) 20 3377 3445

FTI Consulting

Charles Palmer

+44 (0) 7976 743 360

Investors and Analysts

Informa is hosting a conference call for analysts and investors today to discuss the IMS and trading outlook, commencing at 8.30am BST. Dial in details: UK 0800 694 5707; International +44 (0) 1452 541003; US +1 866 254 0808. Conference ID: 41415801.

Notes to editors

Cautionary Statements

This interim management statement contains forward looking statements. These statements are subject to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward looking statements. The terms 'expect', 'should be', 'will be' and similar expressions identify forward looking statements. Factors which may cause future outcomes to differ from those foreseen in forward looking statements include, but are not limited to: general economic conditions and business conditions in Informa's markets; exchange rate fluctuations, customers' acceptance of its products and services; the actions of competitors; legislative, fiscal and regulatory developments; changes in law and legal interpretation affecting Informa's intellectual property rights and internet communications; and the impact of technological change. These forward looking statements speak only as of the date of this interim management statement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this document to reflect any change in the Group's expectations or any change in events, conditions or circumstances on which any such statement is based.



### END ###

Provider
Channel
Contact
Tensid Ltd., Switzerland
www.tensid.ch


newsbox.ch
www.newsbox.ch


Provider/Channel related enquiries
[email protected]
+41 41 763 00 50

a d v e r t i s e m e n t