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Healthy First Half for Datamonitor
Publishing and events group Informa has announced results for the first half of the year, with strong results for its analyst subsidiary Datamonitor, and robust figures from its publishing arm bolstering the more troubled events business.
The Group's publishing business accounts for 51% of its revenue and is said to be holding up well, whereas the events and training unit, which accounts for the other 49%, is 'experiencing the most severe downturn ever in this area'. Specifically, the Professional and Commercial Information (PCI) division of which Datamonitor forms a part alongside Informa Business Information and Informa Financial Information, has seen cost efficiencies leading to adjusted organic growth in operating profits of 13% to £53.8m on revenues of £185.6m. The firm says Datamonitor has 'delivered another six months of top line growth' and adds: 'With the exception of IT/Technology, its verticals have all continued to perform well, subscriber renewal rates remain stable in the mid 80s and operating margins have been increased.'
The Group warns that trading will remain difficult for the remainder of this year and the outlook for 2010 is uncertain. Overall first half net profit was down 51%.
Web site: www.informa.com .
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