Interim Management Statement

Interim Management Statement

Press release

21 May 2012

Informa plc

Interim Management Statement

Informa plc ("Informa" or the "Group") is releasing an interim management statement providing an update on the performance and financial position of the Group since the year ended 31 December 2011 based on the results to 30 April 2012 with comments reflecting trading up until the date of this release.

Highlights

• Large events performing well demonstrating resilience and visibility with strong rebookings
• Subscription income increased with good start to the year in Academic
• Continued focus in growing digital publishing portfolio
• Geographic expansion continues with new partnership giving access to Chinese Healthcare market
• Improvement in operating cash flow
• Full year expectations remain unchanged

Peter Rigby, Chief Executive said:

	"We are meeting the strategic goals that we set for each of our three divisions and, despite the continued difficult macro economic backdrop, our full year expectations remain unchanged.
	Trading conditions across the world are volatile and both the renewal and new subscriber cycles take longer than they used to. Overall we believe we have the right, high quality products in the right sectors to ensure the Group's future progression."

Academic Information: Overall, the division has made a good start to the year with the journal renewal in line with expectations and more progress on e-books. Organic revenue growth of 2.5% is in line with expectations and reflects a solid start across our key geographies. We are seeing the benefits of the investment in T&F Online providing customers with greater access to our product range. We are holding an analyst and investor meeting on our Academic Books division later today.

Professional and Commercial Information: We remain committed to building digital, high quality subscription businesses within our core sectors and we are making good progress towards our strategy of being a digital only information provider by the end of 2013. The overall quality and resilience of the portfolio is being enhanced with operating profit margin expected to improve over the course of the year. As part of this transition, we are moving away from some print advertising revenue to focus on digital advertising contracts. Two of the larger sectors, pharmaceuticals and financial services, particularly across Europe, have faced challenges. This has led to longer renewal cycles and, in some cases, reduced subscriptions. As a result organic revenue has declined by 4.1% in the period. We still expect this division to grow revenue organically in 2012.

Events and Training: The trading performance year to date reinforces our strategy to run more large scale events which demonstrate resilience and visibility of earnings and cash flow. We have started well having already run some of our largest events - Arab Health, the Anti Ageing Congress, Super Return - which achieved good growth over their performance in 2011. Exhibition and sponsorship income remains strong and the forward bookings on shows to be run later in the year and into 2013, for those that have already been run, underline the strength of the portfolio. The small conference market, especially in Europe, remains tough and we have seen revenue declines year on year in some countries. We continue to restructure our operations and take product out of the market to reflect current demand. Overall organic revenue growth across Events is 3.6%.

Corporate training, particularly in the US, has made a slow start with revenues currently down by 6.8%. We are encouraged by a better performance in April but don't expect to have recovered this deficit by the half year.

Geographic expansion remains a key part of our strategic plan and we have launched new events in Cairo, Sao Paulo and Riyadh already this year. In addition, within PCI we have entered into a collaborative relationship which provides access to Chinese healthcare data with technology and analytics. This collaboration will result in data driven products that will allow Informa clients unique market insights.

Our operating cash flow remains strong and we continue to operate at the lower end of our net debt to EBITDA target ratio range of between 2.0 to 2.5 times.

We note the weakening of both the US Dollar and the Euro versus Sterling over recent weeks. Informa generates approximately 46% of its sales in US Dollars or other currencies that are closely aligned with the US Dollar. A one cent movement on the average £:$ exchange rate for the full year equals approximately £1.5m of adjusted operating profit. We have less exposure to the Euro. A one cent movement on the average £:€ exchange rate for the full year equals approximately £0.4m of adjusted operating profit.

Enquiries

Informa plc
Peter Rigby, Chief Executive
Adam Walker, Finance Director	[phone]
James Gareh, Investor Relations	[phone]
FTI Consulting	[phone]
Charles Palmer

Investors and Analysts

Informa is holding a teach-in, starting at 10:00am, for analysts and investors on the Academic Books business at the offices of FTI Consulting, Holborn Gate, 26 Southampton Buildings, London WC2A 1PB. Registrations should be made with [e-mail].

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.

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