Informa’s trading update:
The Group continues to make good progress and despite some global macroeconomic uncertainty and geopolitical risk, the Board remains confident of meeting full-year expectations.
• Global Exhibitions: With over 45% of annual revenue across the portfolio of 180 Exhibitions already traded, and a strong performance from the Top 20 shows on Exhibitor revenue, visitor numbers and rebooking rates, we remain confident in delivering another year of strong organic growth in 2016. Our strategy to become a Market Maker in our chosen verticals is being borne out by strong operating performance and profit growth, allowing continued investment in digital and data capabilities, and on improving the overall exhibitor and visitor experience.
• Business Intelligence: The focus on subscription management and customer retention continues to deliver results, with further year-on-year growth in annualised contract values and average renewal rates approaching 90%. This underscores our expectation of delivering positive organic growth in 2016 for the first time in six years. This performance has been combined with investment in intelligent product platforms, marketing automation and customer insight.
• Academic Publishing: A consistent performance in Academic Journals and continued strength in e-books has been balanced by ongoing softness in physical books. We remain committed to delivering another year of steady organic growth. Our continued focus on the upper level Academic market, the strength of the Academic Journal portfolio and the creation of a global Books business, combined with investments in specialist content and technology to drive increased usage and discoverability, positions us well.
• Knowledge & Networking: The launch of a simplified operating model, vertical focus and portfolio rationalisation is driving momentum, particularly amongst large, branded events, with increased audience reach and improving delegate numbers delivering good revenue growth across the Top 25 events run to date in 2016. This underpins our target of flat to positive organic growth this year, and gives us confidence in our investments in digital marketing and data analytics.
Group Chief Executive, Stephen A. Carter, said: “Across Informa, the focus on growth continues and we remain on track to deliver full-year growth in revenue, earnings and dividends. Progress on the Growth Acceleration Plan continues, with the focus firmly on delivery, ensuring we implement and realise our plans for accelerated growth and increased capability for future scale.”
