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Informa PLC on Thursday said it has entered 2023 with continuing momentum thanks to a strong finish to 2022.
Informa is a London-based business publisher and events organiser.
Chief Executive Stephen Carter pointed to strong performances in both Academic Markets and B2B markets and a strengthened balance sheet as evidence for the firm to deliver underlying growth in 2022.
‘Continued strong performance in traditional pay-to-read publishing combined with further progress in Open Research is expected to deliver about 3% underlying revenue growth in 2022, up from 2.4% in 2021,’ Informa says.
Informa now expects to post revenue of more than £2.38 billion in the year, with adjusted operating profit anticipated at £530 million. Free cash flow is expected at £440 million.
For 2021, Informa posted revenue of £1.80 billion and an adjusted operating profit of £388 million. It swung to pretax profit of £137.1 million from a loss of £1.14 billion in 2020.
Informa added that over £500 million of buybacks were completed in 2022. It is committed to paying out a minimum of 40% of the group’s continuing adjusted earnings.
The company will release annual results on March 9.
Informa shares were up 1.7% at 671.00 pence each on Thursday morning in London.
By Xindi Wei, Alliance News reporter
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