According to DMGT:
In December, DMGT reduced its stake in Euromoney from c.67% to c.49%. Consequently, Euromoney is no longer a subsidiary of DMGT and, as for Zoopla, will be accounted for as an associate. The reduction will increase the focus within DMGT’s portfolio and enhance its financial flexibility, consistent with the Group’s strategy.
The Full Year revenue and profit outlook remains unchanged, other than dmg information’s underlying revenue growth rate is now expected to be in the mid-single digits.
PERFORMANCE BY BUSINESS
Risk Management Solutions saw revenues grow by an underlying 1% in the quarter. A major milestone is set to be achieved in Spring 2017 with the release of Risk Modeler version 1.0 on the RMS(one) platform, following successful completion of product testing.
dmg information revenues grew by 1% on an underlying basis. Genscape, Hobsons and the US property information businesses continued to deliver underlying growth. As expected, the European property information businesses were adversely affected by reduced activity levels in the UK market.
dmg events delivered underlying revenue growth of 3%. The underlying revenue growth for the Full Year is still expected to be in the high-single digits, driven by Gastech.
Euromoney Institutional Investor revenues declined by an underlying 5%, consistent with expectations.
dmg media revenues declined by 1% on an underlying basis, whilst circulation revenues grew by 3%, reflecting the benefit of cover price increases more than offsetting the adverse impact of declining volumes. Total advertising revenues across dmg media were down by an underlying 4%, although across the Mail businesses as a whole, total advertising revenues were in line with last year. dmg media still expects to deliver stable underlying revenues for the Full Year.
