Trading Statement

RNS Number : 6477U

Informa PLC

29 June 2009

 



29 June 2009

Informa plc

Trading Update

Informa plc (the 'Group') releases a trading update for the period ending 30 June 2009 prior to entering its close period. The Group will announce its half year results on 28 July 2009.

On 1 May 2009, the Group issued an Interim Management Statement confirming that it was trading in line with management expectations despite very challenging trading conditions. This remains the case.

The Group's publishing businesses, which encompass two of the Group's divisions - Academic Information and Professional and Commercial Information - accounting for over 60% of the Group's adjusted operating profits, continue to grow, demonstrating the resilience of our niche products and intellectual property across a number of different verticals. At the same time ongoing action to improve efficiencies will result in an increased adjusted operating profit margin. 

Across our Events and Training Division we have pro-actively continued to reduce volume to protect profitability in the face of weak demand. As a consequence, in the first six months of the year organic revenues will be considerably lower than in the same period last year. Despite this, the high variable cost base will mean that the impact on adjusted operating profit margin will be limited.

The economic background remains challenging in many of our geographic markets.  However,  the pro-active approach taken to cost cutting across the whole business means that the Group anticipates that full year adjusted operating profit margins can be maintained at 2008 levels. Restructuring costs incurred to date in 2009 related to cost saving initiatives are expected to be approximately £10 million with annualised savings estimated at approximately £20 million.

Our reported results will benefit from the strength of the US$ and the Euro relative to 2008 levels, although the recent strengthening of sterling, if maintained, will inevitably reduce the positive impact in the balance of the year.

We remain confident about the Group's future prospects and believe that the market positions of our leading brands and events leave us well positioned to grow significantly when world economies start to improve. The Board confirms that the Group continues to trade in line with its expectations for the full year.

Enquiries

Informa plc	020 7017 5000
Peter Rigby, Chief Executive
Adam Walker, Finance Director
Mark Kerswell, Chief Operating Officer
Maitland
Emma Burdett	020 7379 5151
Rebecca Mitchell

Note to editors

Informa provides specialist, high value information to the principal global sectors via Publishing, Events and Training. At the heart of every Informa product and service is research-based, proprietary information for a targeted, expert audience.  Informa publishes approximately 2,500 subscription based products and services delivered electronically and in hardcopy, and 45,000 books. Each year Informa produces approximately 11,000 events around the world, powered by a marketing database of over 20 million contacts. It has an extensive portfolio of brands including Lloyd's List, Routledge, Taylor and Francis, IIR, IBC, AchieveGlobal, ESI and Euroforum. Informa operates in 80 countries and employs approximately 9,000 people.

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