Informa, the events and business-intelligence group, announced on Thursday that it anticipates its 2023 results to be at the higher end of its guided range. This projection comes as the company reported a significant increase in pretax profit for the first half of the year and has clear visibility for the second half.
For the six months ended June 30, Informa’s pretax profit reached £314.6 million ($407.2 million), a substantial rise compared to the restated figure of £41.5 million from the same period last year, excluding discontinued operations. Similarly, adjusted operating profit, one of the company’s preferred metrics that excludes exceptional and one-off items, saw a notable increase to £413.5 million, in contrast to the restated figure of £203.8 million.
When it came to revenue, Informa recorded a rise to £1.52 billion, surpassing the restated figure of £993.5 million.
Earlier guidance from the company projected full-year revenue to be within the range of £2.95 billion to £3.05 billion, with adjusted operating profit estimated between £750 million and £790 million.
“We are committed to developing a stronger, more expansive, and scalable business. This commitment is reflected in our impressive performance during the first half of the year, positioning us well to meet or exceed our 2023 guidance. We also anticipate further growth momentum in 2024 and 2025,” commented Chief Executive Stephen A. Carter.
- Ian Walker
- Elena Vardon