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Euromoney Institutional Investor PLC on Thursday said it remains well-placed for its full-year results after strong revenue growth in the second quarter.
The London-based business information publisher and event organiser added that it continues to monitor the conflict in Ukraine and has a small number of employees there. Euromoney has suspended business with those incorporated or resident in Russia or Belarus.
Combined revenue from Russia and Ukraine in the 2021 financial year was just £1 million, or 0.3%, of the group total.
Turning to its performance in the second quarter to the end of March, Euromoney said strong revenue growth was driven by continued momentum in subscriptions and a continuing recovery in events.
Events have seen a ‘consistent improvement’ in booking trends since the start of 2022, with a number of large events in the second quarter achieving revenue above pre-pandemic levels.
‘Following an encouraging first half performance the group remains well placed to deliver full year results in line with the board's expectations, before taking account of the benefits from property savings,’ the company said.
Due to flexible working across the group, it has reviewed real estate requirements and found ‘significant opportunities’ to reduce office costs. It will update on the outcome of this at its half-year results in May.
Shares in Euromoney were up 1.7% at 982.21 pence in London early Thursday.
By Lucy Heming; lucyheming@alliancenews.com
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