Interim Management Statement

Interim Management Statement

Press Release

12 May 2011

Informa plc

Interim Management Statement

Good start to the year - confirms full year expectations

Informa plc is releasing an interim management statement providing an update on the performance and financial position of the group since the year ended 31 December 2010 based on the results for Q1 with comments reflecting trading up until the date of this release.

Highlights

• Organic revenue growth of 4.6%
• Margin improvement
• Strong start to the year across Events and Training
• Publishing activities remain in line with our expectations
• Strong operating cashflow and balance sheet
• On track to deliver our full year expectations

Events and Training: We have seen a further recovery across our Events portfolio with organic revenue growth of 6.7%. Our trade show business, with the Middle East particularly strong, has started the year well. We have seen good growth in sponsorship and delegate income across our conference operations and our training businesses, excluding those serving the US government, continue their recovery.

Professional and Commercial Information: Organic revenue growth of 2.1% was assisted by a recovery in our financial data subscription businesses. Our healthcare and logistics products have started the year well offset by weakness in advertising and a delay in some of our larger renewals. The Datamonitor suite of products has been fully integrated by vertical into Informa Business Information and is performing well with the benefits starting to come through as expected. We are holding an Analyst and Investor Teach-in on the Professional and Commercial Information division later today, principally focussing on Informa Business Information.

Academic Information: Organic revenue growth of 5.0% is ahead of expectations partly due to phasing around some journal receipts. Our books business has started well and we are pleased with the progress on e-books although recent events in Japan and the Middle East have made trading generally more challenging. We continue to grow in the Emerging Markets and despite the government funding constraints in our largest markets, we expect the overall business to grow again in 2011.

With strong operating cashflow to date, net debt to EBITDA remains well within the ratio of 2.0 to 2.5 times.

During April we refinanced our bank facilities signing a new £625m five year revolving credit facility with a core syndicate of lenders, supplementing the private placement loan notes which we issued last year. We are pleased with the terms of the new facility, which reflect the Group's credit profile and there are no changes to the Group's lending covenants.

Informa generates approximately 40% of its sales in the United States. A one cent movement on the average £:$ exchange rate for the full year equals approximately £1m of operating profit. The average rate at the end of April 2011 was £:$1.61 (FY 2010 £1:$1.54)

Peter Rigby, Chief Executive, said:

"We have had a strong start to the year despite a global economic environment which remains variable. All three of our divisions are launching new products or titles, seeking bolt-on acquisitions and are well placed to grow further. With three quarters of our publishing activities now digital and growth continuing in the emerging markets, we remain confident about the prospects for Informa in 2011 and beyond."

Enquiries

Informa plc

Peter Rigby, Chief Executive
Adam Walker, Finance Director	[phone]
James Gareh, Investor Relations	[phone]
Financial Dynami
Charles Palmer	[phone]

Investor Day Details

Today, Informa is holding a teach-in for analysts and investors on the Professional & Commercial Information (PCI) division, principally focussing on Informa Business Information.

The teach-in will begin at 08:30 for a 09:00 start and will run until around 12:45 and is being held at the offices of RBS, 250 Bishopsgate, London, EC2M 4AA.

Note to Editors

Bringing Knowledge to Life - Businesses, professionals and academics worldwide turn to Informa for unparalleled knowledge, up-to-the minute information and highly specialist skills and services. Our ability to deliver high quality knowledge and services through multiple media channels, in dynamic and rapidly changing environments, makes our offer unique and extremely valuable to individuals and organisations.

Cautionary Statements

This interim management statement contains forward looking statements. These statements are subject to a number of risk and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward looking statements. The terms 'expect', 'should be', 'will be' and similar expressions identify forward looking statements. Factors which may cause future outcomes to differ from those foreseen in forward looking statements include, but are not limited to: general economic conditions and business conditions in Informa's markets; exchange rate fluctuations, customers' acceptance of its products and services; the actions of competitors; legislative, fiscal and regulatory developments; changes in law and legal interpretation affecting Informa's intellectual property rights and internet communications; and the impact of technological change. These forward looking statements speak only as of the date of this interim management statement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this document to reflect any change in the Group's expectations or any change in events, conditions or circumstances on which any such statement is based.

Press Release (PDF)

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