Informa Group PLC
20 September 2001
IMPACT OF REDUCED AIR TRAVEL
Last week's terrorist action in the USA is certain to affect international
travel which is likely to feed through to delegate attendances at some of
Informa's conferences.
In the immediate aftermath of the attacks we have taken action to postpone
several conferences until later in the year and we have cancelled a small
number of planned events. At this stage the impact on our results has been
relatively limited and we do not currently expect the affect on profits before
tax to exceed £500,000. However the forward programme for the remainder of the
year could be affected further if there is a significant escalation of
international tension.
The larger events which are still scheduled for the second half include Chips
to Hits, a major technology conference for the life sciences sector to be held
in San Diego at the end of next month; GSM Middle East, the regional telecoms
event in Dubai in November; a marine fuels event in Panama which has now been
postponed until mid-November; and a London energy finance event, Investing in
Iran, which is scheduled for late October. Together these events are forecast
to contribute around £1m of profit.
Almost 50% of Informa's annual profits arise from publishing activities which
are likely to be largely unaffected by the tragic events of last week. In
addition, around 85% of our total annual conference output is made up of
domestic events in the UK, continental Europe, Asia and Australia and does not
involve delegates travelling internationally. US delegates account for only
some 3.5% of group revenue, made up of 2.5% from events held in the USA and 1%
from US attendance at events held elsewhere.
We plan to issue a further trading update later in the year.
For further information:
Peter Rigby Chairman, Informa Group 020 7453 2222
David Gilbertson Chief Executive, Informa Group 020 7453 2222
Jim Wilkinson Finance Director, Informa Group 020 7453 2222
Fiona Piper The Maitland Consultancy 020 7379 5151
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