According to Informa plc:
The Group continues to make both operational and financial progress and remains on track for full year expectations. The portfolio changes over the last few years, the increasing level of recurring revenue from subscriptions, our growing scale in B2B exhibitions and large-scale confexes and our international expansion strategy particularly in the US, provide the Group with increasing Balance and Breadth. As always, there are variances in trading across verticals and geographies, with continued strength in North America and Asia balanced by ongoing weakness in Brazil, and some signs in Europe of an impact from the uncertainty created by Brexit in our delegate-based businesses.
We remain focused on the Disciplined Delivery of the 2014-2017 Growth Acceleration Plan (GAP) strategy to improve levels of operational fitness across the Group and return all our businesses to growth. Investment remains on schedule and on budget, with around £50m being invested in more than 30 initiatives across the Group during 2016. Similarly, year-end performance remains on track on revenue, operating profit, earnings, cash flow and dividend growth.
The GAP acquisition strategy recently led to the addition of Penton Information Services. This adds further scale and US presence, significantly strengthening our Global Exhibitions and Business Intelligence Divisions. The integration programme begins this month, led by Patrick Martell, the Chief Executive of Business Intelligence, who has also assumed the role of Chief Executive and Integration Officer for Penton. The focus now is on ensuring Delivery of the 2016 financial targets of both companies and securing early 2017 trading, an intensive period for subscription renewals and a number of our major Exhibitions Brands.
Stephen A. Carter, Group Chief Executive, said: "Informa continues to make both operational and financial progress through 2016, and remains on track to deliver another year of growth in Revenue, Profits and Earnings.
He added: "The recent addition of Penton increases our US scale and reach, further strength our capabilities in Global Exhibitions and Business Intelligence in particular.
"Together with our Growth Acceleration Plan, it increases the Balance and Breadth acro portfolio, underpinning the potential for future growth."
