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Informa PLC on Monday upgraded its full-year outlook on the back of strong underlying revenue growth in the first 10 months of the year.
The London-based business publisher and events organiser reported underlying revenue growth of 41% in its continuing business in the 10-months to October, thanks to strong trading in all three of its Business-to-Business Markets businesses and in its Academic Market business.
For 2021, Informa posted an underlying revenue of £1.80 billion.
Informa said 2022 performance is tracking toward 85% of equivalent full-year revenue in 2019, when excluding China, which has been hurt by Covid-19 restrictions.
In 2019, Informa's total revenue was £2.89 billion.
"Growth has been consistent across all specialist markets and all geographic regions where Covid restrictions have been removed and are fully open. In the US, customer demand has been particularly strong as business to business activity has returned at pace, playing to the strength of our brands, leadership positions within key specialist markets and the scale of our overall business in the region," Informa said.
As a result, Informa increased its guidance range for revenue to between £2.30 billion and £2.35 billion for 2022 from between £2.15 billion to £2.25 billion previously.
Adjusted operating profit was raised to between £490 million and £505 million from between £470 million and £490 million to reflect "further outperformance of Live and On-Demand Events" in North American, Europe, the Middle East and Africa, and Southeast Asia.
Informa shares rose 5.6% to 583.40 pence each in London on Monday morning.
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