Informa, a London-listed company, has revised its annual profit outlook upward by £70m ($89.7m) due to impressive results in its B2B exhibitions and academic markets.
The company announced that it has fully recovered from the disruptions caused by the Covid-19 pandemic, with growth surpassing pre-pandemic levels, particularly in key international markets like China.
In a statement the company said: “Informa has fully recovered from Covid disruption, with growth exceeding pre-pandemic levels and demand increasing in key international markets, including China.”
Anticipating a 10 percent increase in adjusted operating profit for the year ending on December 31, 2023, Informa now expects it to range between £750m and £790m. The company’s revised revenue forecast is also optimistic, projecting a 7 percent increase to between £2.95bn and £3.05bn, surpassing pre-Covid-19 levels in 2019.
Following the announcement of the revised revenue forecast on the London Stock Exchange, shares in Informa rose by 4 percent within the first half-hour of trading on Thursday.
Informa attributed its strong rebound in revenues and overall activity to its portfolio of over 600 major B2B brands serving more than 20 attractive and growing market categories worldwide.
In a statement the company said: “Over the last decade we have progressively built a portfolio of 600+ major B2B brands serving 20+ attractive and growing market categories in all major regions of the world.
“Through Covid we took a long-term view, protecting and preserving these brands, supporting colleagues, investing in digital and data, and maintaining the strength of our relationships with customers. This has enabled us to return to live events post-Covid with a better-quality product and a broader B2B service offering, resulting in a very strong rebound in revenues and overall activity,” the statement read.
As of 2023, Informa has already organized over 60 major live events, attracting approximately 40,000 exhibitors and over 1.5 million attendees across more than 12 million square feet of floor space.
Informa Markets reported a remarkable 43.5 percent growth in the first five months of the year, while Informa Connect witnessed strong performances in its core verticals, including life sciences (BioEurope) and finance (SuperReturn), as well as in its fan-oriented pop culture events (MegaCon Orlando).
Informa Connect achieved divisional underlying revenue growth of 19.2 percent by the end of May.
Following the completion of Informa’s acquisition of Tarsus, the company noted that trading across its portfolio is robust, reflecting the strength of its brands and customer relationships. Tarsus will continue to operate as a separate entity within Informa and will be reported as a distinct operating division in the company’s half-year results before being integrated into Informa’s existing divisional structure in the 2023 full-year results.
Informa’s recent London Tech Week attracted more than 30,000 attendees from 150 countries, featuring a keynote address by UK Prime Minister Rishi Sunak.
Group chief executive, Stephen Carter, said, “The Informa Group is delivering accelerating growth in revenues, profits, earnings and cashflows, with a strong balance sheet and increasing shareholder returns. This enables us to increase our guidance for 2023 and create further opportunities for growth and acceleration in 2024 and beyond.”
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