Interim Results

Informa Group PLC
29 August 2000


RESULTS FOR THE HALF YEAR TO 30TH JUNE 2000



FINANCIAL HIGHLIGHTS

-  Profit  before tax and goodwill amortisation (and exceptional
items in 1999) up 28% to £20.6m

- Turnover up 27% to £147.5m

- Operating margin increased to 15.9% (HY 1999: 14.8%)

- Operating profit before goodwill amortisation (and exceptional
items in 1999) up 36% to  £23.4m

- Electronic media operating profits up 20%

- Three acquisitions completed for £21m

- Adjusted EPS up 29% to 11.8p

- Interim dividend per share of 2.53p


Informa Group's Chairman Peter Rigby commented:

'We  are  delighted to announce a strong set of interim  results
for   the  Group  which  reflect  our  strength  and  continuing
progress.   A  key  feature of these results  is  the  continued
strong  organic growth of the business as we exploit the dynamic
synergies between our publishing and conference activities.'


Enquiries:

Peter Rigby/David Gilbertson/Jim Wilkinson
Informa Group plc
020 7453 2222

Lydia Stewart/Fiona Piper
The Maitland Consultancy
020 7379 5151


RESULTS

Pre-tax profits before goodwill amortisation and exceptional
items for the six months ended 30 June 2000 were £20.6m, some
28% higher than the comparable period last year (1999: £16.1m).
Turnover was up 27% at £147.5m (1999: £116.1m). Of the 36%
increase in profit before interest, goodwill amortisation and
exceptional costs, 21% is organic and 15% relates to
acquisitions.  This illustrates the strength of our core
business which is powered by 1,500 periodicals, 3,500 events a
year and our 8 million-strong client database.  The first half
result was helped by the growth in our largest operating
division, Telecoms and Media, which saw operating profit rise by
70%.

The Group's operating margin of 15.9% compares well with the
14.8% achieved in the first half of last year.  The margin
improvement represents a generally more efficient performance,
the increase in electronic publishing activity, the maturing of
start-up operations and the continuing exit from marginal and
loss making businesses.

Currency factors, particularly the weakness of the euro in the
first half of 2000, reduced the year on year increase in
operating profit when translated into sterling by some £350,000.

Adjusted earnings per share were 11.80p.  This compares with
9.17p in 1999, an increase of 29%.  On the strength of these
figures we propose that an interim dividend of 2.53p be paid on
13 November to shareholders on the register on 13 October.


OPERATING REVIEW

TELECOMS AND MEDIA

Telecoms and Media, our largest division, is now organised as a
fully integrated market-facing division with conference activity
and electronic and hard copy publishing all grouped under a
single management structure.  In the first half the benefits of
this consolidation began to make themselves felt in new product
development and revenue maximisation and we look forward to
continuing progress in the remainder of the year.

Underlying operating profit in Telecoms and Media rose by 70% to
£10.2m.  Most of this growth was organic.  Our flagship GSM
World Congress, the world's largest mobile phone event, held in
February in Cannes attracted a record 5,500 delegates and 9,000
exhibition attendees.  This helped further cement our
relationship with the GSM association with whom we work closely
on a number of initiatives.

The progress towards third generation mobile telephone
technology and our pre-eminent position in this marketplace have
enabled us to form alliances with a total of 35 industry
associations to produce a wide range of new products.  This
strength was reflected by major successes in new international
and regional events relating to the emerging technologies of
WAP, GPRS, Mobile Internet and Bluetooth where our second annual
event, held in June in Monte Carlo, attracted 1,200 delegates,
30% up on last year.


MARITIME AND TRANSPORT

Our Maritime and Transport business fared less well in the first
half with operating profit some 14% below 1999 at £3.3m.  One of
the chief factors affecting the result is the absence of
contribution from the biennial Cruise + Ferry exhibition and
conference.  The Ro-Ro (roll-on-roll-off shipping) event held in
even years is considerably smaller although it enjoyed record
receipts in May this year.

Also affecting the results adversely was the absorption into the
division of some loss-making automotive titles acquired as part
of the portfolio from Pearson last November.  The structure and
performance of these products have now been addressed and their
results are expected to improve in the second half.

Encouragingly, underlying conditions in the core maritime
markets are now improving with freight rates for tankers, dry
cargo vessels and containerships all rising.  Our business tends
to be a lagging indicator of the health of this market and the
incipient turnaround and growing business confidence in the
sectors we serve is reflected by our flagship title Lloyd's List
which performed well in the half, showing growth in operating
profit of 11% on its 1999 performance.


OTHER DIVISIONS

Our other divisions performed well in the half year.  Profits
for Finance and Insurance and Law and Tax grew at 9% and 21%
respectively.  We continue to enjoy high subscription retention
and capture rates across our range of titles especially in
insurance.  We also held a number of successful conferences in
the banking and legal areas, especially a major international
event on e-commerce for financial markets.  We have also
completed a number of contracts to supply our content to third
party vendors which will add to future profitability, especially
in the legal and financial markets.

Our Commodities and Energy portfolio performed strongly, with
operating profit rising 127% year on year, including good
organic growth of 32%.  The division was boosted by the
acquisition of the Heighway commercial fishing titles from Emap
late in 1999.  Our commercial Fishing Exhibition held in Glasgow
in April was highly successful and there is a programme of
smaller regional shows planned for the rest of this year and
beyond.  The German Annual Energy Conference held earlier this
year in Berlin drew over 600 delegates and was extremely
profitable as was a major study on Natural Gas produced by our
Washington-based WPA research arm for the American Gas
Association.

We have also seen a very strong result in our Biomedical and
Pharmaceutical division where underlying operating profit
quadrupled.  The withdrawal late last year from unprofitable
healthcare related events in the US saw the division bounce back
in the first half with much higher profitability and margins on
reduced activity.  Our annual Drug Discovery Event in Europe in
May was a great success.  The related market leading US event
was held in Boston in August and attracted more than 1,000
delegates.


ACQUISITIONS

We are pleased that the acquisitions made in late 1999 have now
been successfully integrated into the Group and are performing
well.  These acquisitions from Baskerville (Telecoms and Media),
EMAP (Transport, Commodities, Finance and Insurance) and Pearson
(Telecoms and Media, Biomedical and Pharmaceutical and
Automotive) all met our expectations and, in total, contributed
to profit in the first half after the deduction of interest
costs.  We expect a rising contribution from these titles in the
second half of the year.  Each of these transactions has added
respected brands to our product portfolio and we have begun to
add value to these incoming products as well.

So far this year we have made three significant acquisitions to
a value of £21m.  In June we acquired the Los Angeles based
BISYS Research Services company, now renamed Informa Research
Services.  This company, which provides information on lending,
borrowing and mortgage rates, complements our existing range of
financial information services in the US.  The transaction was
completed too late in the period to feature significantly in our
first half profits.

The purchase from Quantum Publishing of Seafood International
magazine fits well with our commercial fishing portfolio.

Since 30 June we have bought a series of titles and exhibitions
in the cargo handling, freight and logistics areas from IIR
Limited.  These specialist market leaders further strengthen our
Maritime and Transport portfolio.

We continue to seek and research complementary publishing
businesses in our main markets and hope to conclude further
acquisitions before the year end.

E-COMMERCE

Our 100 electronic products accounted for 12% of first half
profits, with margins of about 27% compared with 15.9% overall.

In addition to delivering our content electronically, we use the
internet heavily as a marketing tool.  Most of our products have
their own websites, increasingly linked to other relevant sites
and appropriate search engines.  We have established specialised
web-marketing teams, skilled at encouraging people to visit and
buy on our web sites.  In the first half £11.6m (1999: £4.8m) of
product bookings were taken via the internet of which 19% came
from customers not on our database and so constituted entirely
new revenue.

The internet provides us with opportunity to market more
efficiently.  Marketing costs currently comprise some 20% of our
total costs, largely due to printing and postage but over time
we expect the internet to reduce this percentage.  In the
meantime we will continue to direct consumers towards our
websites through the 50 million pieces of direct mail we
distribute each year.

We are spending around £3m a year on new electronic development,
and £15m in total on electronic media.  This year the investment
includes web-based fulfillment and content management systems
that facilitate delivery of information on line.

The second half will see the launch of  lloydslist.com, our
maritime subscription based information portal, bringing
together daily news content with a range of added value maritime
data and analysis in a single integrated service.  We have also
signed a Memorandum of Understanding with the Port of Singapore
Authority (PSA) to provide maritime information to the PSA's
Portnet.com business.

In the US we distribute our financial information via a number
of larger internet carriers such as Quicken, Prodigy and Excite.
This is providing a significant new revenue stream and we are
now looking at a number of similar opportunities in each of our
sectors.  Our approach to this is generally on a non-exclusive,
fee and revenue sharing basis but we would also consider equity
agreements in the right circumstances.

OUTLOOK

The current rate of expansion of our information business and
the generally positive market conditions in the sectors we
serve, mean we are optimistic about the remainder of 2000.  We
expect to continue our progress of organic growth supplemented
by strategic acquisitions and look forward to delivering a
satisfactory result for the full year.


CONSOLIDATED PROFIT AND LOSS ACCOUNT
For the period ended 30 June 2000


                       --------- --------- --------- ---------
                            2000      1999      1999      1999
                       --------- --------- --------- ---------
                       Half year Half year Half year Half year
                           Total    Before    Excep-     Total
                                    Excep-    tional
                                    tional     items
                                     items
                 Notes unaudited unaudited unaudited unaudited
                           £'000     £'000     £'000     £'000
---------------  ----- --------- --------- --------- ---------
Turnover             1   147,529   116,077         -   116,077
                                                              
Operating            1    23,419    17,190   (4,003)    13,187
profit/(loss)
before goodwill
amortisation
Goodwill             1   (2,622)   (1,056)         -   (1,056)
amortisation
---------------  ----- --------- --------- --------- ---------
Operating                 20,797    16,134   (4,003)    12,131
profit/(loss)
Disposal of                    -         -   (1,891)   (1,891)
subsidiary
undertakings
and termination
of businesses
Loss on                        -         -         -         -
disposal of
fixed assets
---------------  ----- --------- --------- --------- ---------
Profit/(loss)             20,797    16,134   (5,894)    10,240
before interest
Net interest             (2,839)   (1,108)     (772)   (1,880)
payable
---------------  ----- --------- --------- --------- ---------
Profit/(loss)             17,958    15,026   (6,666)     8,360
on ordinary
activities
before tax
Tax on                   (6,780)   (5,468)     1,500   (3,968)
profit/(loss)
on ordinary
activities
---------------  ----- --------- --------- --------- ---------
Profit/(loss)             11,178     9,558   (5,166)     4,392
on ordinary
activities
after tax
Minority                    (20)         -         -         -
interests
---------------  ----- --------- --------- --------- ---------
Profit/(loss)             11,158     9,558   (5,166)     4,392
for the
financial
period
Dividends                (2,981)   (2,706)         -   (2,706)
---------------  ----- --------- --------- --------- ---------
Retained                   8,177     6,852   (5,166)     1,686
profit/(loss)
for the
financial
period
---------------  ----- --------- --------- --------- ---------
Dividends per              2.53p                         2.33p
share
---------------  ----- --------- --------- --------- ---------
                                                              
Earnings per                                                  
share
Earnings per         2     9.56p                         3.79p
share (basic)
Earnings per         2     9.42p                         3.73p
share (diluted)
Adjusted basic       2    11.80p                         9.17p
earnings per
share
---------------  ----- --------- --------- --------- ---------

                                 --------- --------- ---------
                                      1999      1999      1999
                                 --------- --------- ---------

                                    Before    Excep-     Total
                                    Excep-    tional
                                    tional     items
                                     items
                                   audited   audited   audited
                                     £'000     £'000     £'000
-------------------------------- --------- --------- ---------
Turnover                           227,773         -   227,773
                                                              
Operating profit/(loss) before      35,680   (5,687)    29,993
goodwill amortisation
Goodwill amortisation              (2,313)         -   (2,313)
-------------------------------- --------- --------- ---------
Operating profit/(loss)             33,367   (5,687)    27,680
Disposal of subsidiary                   -   (2,676)   (2,676)
undertakings and termination of
businesses
Loss on disposal of fixed assets         -     (740)     (740)
-------------------------------- --------- --------- ---------
Profit/(loss) before interest       33,367   (9,103)    24,264
Net interest payable               (2,931)     (772)   (3,703)
-------------------------------- --------- --------- ---------
Profit/(loss) on ordinary           30,436   (9,875)    20,561
activities before tax
Tax on profit/(loss) on ordinary  (10,880)     1,725   (9,155)
activities
-------------------------------- --------- --------- ---------
Profit/(loss) on ordinary           19,556   (8,150)    11,406
activities after tax
Minority interests                    (40)         -      (40)
-------------------------------- --------- --------- ---------
Profit/(loss) for the financial     19,516   (8,150)    11,366
period
Dividends                          (7,800)         -   (7,800)
-------------------------------- --------- --------- ---------
Retained profit/(loss) for the      11,716   (8,150)     3,566
financial period
-------------------------------- --------- --------- ---------
Dividends per share                                      7.00p
-------------------------------- --------- --------- ---------
                                                              
Earnings per share                                            
Earnings per share (basic)                               9.78p
Earnings per share (diluted)                             9.64p
Adjusted basic earnings per                             18.79p
share
-------------------------------- --------- --------- ---------


STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
For the period ended 30 June 2000

                                   --------- --------- --------
                                        2000      1999    1999
                                   --------- --------- --------
                                   Half year Half year        
                                   unaudited unaudited audited
                                       £'000     £'000   £'000
---------------------------------- --------- --------- --------
Profit for the financial period       11,158     4,392  11,366
Currency translation differences       1,213     2,986   3,377
on foreign currency net
investments
---------------------------------- --------- --------- --------
Total gains and losses recognised     12,371     7,378  14,743
since last accounts
---------------------------------- --------- --------- --------


CONSOLIDATED CASH FLOW STATEMENT
For the period ended 30 June 2000

                                   --------- --------- --------
                                        2000      1999    1999
                                   --------- --------- --------
                                   Half year Half year        
                                   unaudited unaudited audited
                             Notes     £'000     £'000   £'000
---------------------------  ----- --------- --------- --------
Net cash in flow from            3    24,166    15,252  31,769
operating activities
Return on investments and            (2,564)   (1,781) (4,057)
servicing of finance
Taxation                             (3,041)     (648) (8,970)
Capital expenditure                  (3,164)   (4,880) (8,273)
Acquisitions and disposals          (12,195)  (10,766) (55,315)
Merger expenses paid                       -   (2,632) (2,506)
Equity dividends paid                (5,465)   (4,806) (7,526)
---------------------------  ----- --------- --------- --------
Cash outflow before                  (2,263)  (10,261) (54,878)
financing
Financing                                700    12,226  54,945
---------------------------  ----- --------- --------- --------
(Decrease)/increase in cash          (1,563)     1,965      67
in the period
---------------------------  ----- --------- --------- --------


RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT
For the period ended 30 June 2000

                                   --------- --------- --------
                                        2000      1999    1999
                                   --------- --------- --------
                                   Half year Half year        
                                   unaudited unaudited audited
                             Notes     £'000     £'000   £'000
---------------------------  ----- --------- --------- --------
(Decrease)/increase in cash          (1,563)     1,965      67
in the period
Cash inflow from increase            (1,386)  (11,724) (55,268)
in debt financing
---------------------------  ----- --------- --------- --------
Change in net debt                   (2,949)   (9,759) (55,201)
resulting from cash flows
Reclassification of debt                   -         - (3,500)
Translation differences                  726     1,957   3,060
---------------------------  ----- --------- --------- --------
Movement in net debt in the          (2,223)   (7,802) (55,641)
period
Net debt at the start of         4  (91,340)  (35,699) (35,699)
the period
---------------------------  ----- --------- --------- --------
NET DEBT AT THE END OF THE       4  (93,563)  (43,501) (91,340)
PERIOD
---------------------------  ----- --------- --------- --------

CONSOLIDATED BALANCE SHEET
At 30 June 2000
                                 --------- --------- ---------
                                      2000      1999      1999
                                 --------- --------- ---------
                                   30 June        31   30 June
                                            December
                                 unaudited   audited unaudited
                           Notes     £'000     £'000     £'000
-------------------------- ----- --------- ---------  --------
Fixed assets                                                  
Intangible assets                  110,964    98,810    46,762
Tangible assets                     14,917    13,273    11,844
Investments                          3,162     1,042         -
-------------------------- ----- --------- ---------  --------
                                   129,043   113,125    58,606
Current assets                                                
Stocks                               5,318     6,284     4,929
Debtors                             48,054    44,940    36,055
Cash at bank and in hand       4     4,730     5,096     6,304
-------------------------- ----- --------- ---------  --------
                                    58,102    56,320    47,288
                                                              
Creditors: amounts falling       (107,018) (106,010)  (83,431)
due within one year
-------------------------- ----- --------- ---------  --------
Net current liabilities           (48,916)  (49,690)  (36,143)
-------------------------- ----- --------- ---------  --------
Total assets less net               80,127    63,435    22,463
current liabilities
                                                              
Creditors: amounts falling        (96,798)  (91,119)  (53,751)
due after more than one
year
Provisions for liabilities         (1,453)   (1,275)      (91)
and charges
Minority interests                    (64)      (44)       (4)
-------------------------- ----- --------- ---------  --------
Net liabilities                   (18,188)  (29,003)  (31,383)
-------------------------- ----- --------- ---------  --------
Capital and reserves                                          
Called up share capital             11,782    11,696    11,595
Share premium account               66,758    65,409    65,769
Special reserve                          2        12       102
Other reserve                       37,398    37,398    36,832
Profit and loss account          (134,128) (143,518) (145,681)
-------------------------- ----- --------- ---------  --------
Deficit on shareholders'          (18,188)  (29,003)  (31,383)
funds - equity
-------------------------- ----- --------- ---------  --------


NOTES

1. Segmental analysis

Underlying operating profit in the segmental analysis excludes
the amortisation of goodwill and exceptional items.


                                          Turnover             

                                     2000       1999       1999
                                ---------  ---------  ---------
                                Half year  Half year           
                                unaudited  unaudited    audited
                                    £'000      £'000      £'000
------------------------------- ---------  ---------  ---------
Analysis by market sector                                      
Telecoms and Media                 42,380     28,151     47,464
Maritime, Trade and Transport      24,860     19,232     42,578
Finance and Insurance              24,556     21,907     44,044
Law and Tax                        30,117     25,977     51,573
Commodities and Energy             15,851     11,723     26,502
Biomedical and Pharmaceutical       7,940      7,606     14,753
Other                               1,825      1,481        859
------------------------------- ---------  ---------  ---------
                                  147,529    116,077    227,773
------------------------------- ---------  ---------  ---------


                                Profit/ (loss) before interest

                                     2000       1999       1999
                                ---------  ---------  ---------
                                Half year  Half year           
                                unaudited  unaudited    audited
                                    £'000      £'000      £'000
------------------------------- ---------  ---------  ---------
Analysis by market sector                                      
Telecoms and Media                  9,900      3,731      6,724
Maritime, Trade and Transport       2,602      2,700      6,909
Finance and Insurance               3,036      2,157      5,130
Law and Tax                         3,388      1,454      4,023
Commodities and Energy              1,389        306      1,185
Biomedical and Pharmaceutical         563          3        412
Other                                (81)      (111)      (119)
------------------------------- ---------  ---------  ---------
                                   20,797     10,240     24,264
------------------------------- ---------  ---------  ---------



                                      Underlying profit/(loss)

                                     2000       1999       1999
                                ---------  ---------  ---------
                                Half year  Half year           
                                unaudited  unaudited    audited
                                    £'000      £'000      £'000
------------------------------- ---------  ---------  ---------
Analysis by market sector                                      
Telecoms and Media                 10,218      6,003      9,633
Maritime, Trade and Transport       3,283      3,799      8,967
Finance and Insurance               3,838      3,514      7,044
Law and Tax                         3,616      2,987      6,132
Commodities and Energy              1,922        845      2,920
Biomedical and Pharmaceutical         624        153      1,103
Other                                (82)      (111)      (119)
------------------------------- ---------  ---------  ---------
                                  23,419      17,190     35,680
------------------------------- ---------  ---------  ---------

2. Earnings and adjusted earnings per share

In  order  to  show  results  from  operating  activities  on  a
comparable  basis, an adjusted average earnings  per  share  has
been  calculated  which excludes amortisation  of  goodwill  and
exceptional items.

                                   2000       1999         1999
                            ----------- -----------  -----------
                              Half year  Half year      audited
                              unaudited  unaudited
                                  £'000      £'000        £'000
--------------------------- ----------- -----------  -----------
Profit for the financial         11,158      4,392       11,366
period
Adjustments:                                                   
Amortisation of goodwill          2,622      1,056        2,313
Net effect of exceptional             -      5,166        8,150
items
--------------------------- ----------- -----------  -----------
Adjusted earnings                13,780     10,614       21,829
--------------------------- ----------- -----------  -----------
Weighted average number of                                     
equity shares
- for earnings and adjusted 116,773,064 115,802,648  116,167,982
earnings
                                                               
Effect of dilutive share      1,662,864  2,057,543    1,728,586
options
                                                               
Weighted average number of                                     
equity shares
- for diluted earnings      118,435,928 117,860,191  117,896,568
--------------------------- ----------- -----------  -----------
Earnings per equity share         9.56p      3.79p        9.78p
Diluted earnings per equity       9.42p      3.73p        9.64p
share
Adjusted earnings per            11.80p      9.17p       18.79p
equity share
--------------------------- ----------- -----------  -----------

3. Reconciliation of operating profit to net cash inflow from
operating activities

                                       2000      1999     1999
                                  --------- --------- --------
                                  Half year Half year         
                                  unaudited unaudited  audited
                                      £'000     £'000    £'000
--------------------------------- --------- --------- --------
Operating profit before              20,797    16,134   33,367
exceptional items
Exceptional operating costs               -   (4,003)  (5,687)
Depreciation charge                   1,715     1,600    3,197
Amortisation of goodwill              2,622     1,056    2,313
Loss on sale of tangible fixed           10       333       28
assets
Decrease in stocks                    1,017     1,811       89
(Increase)/decrease in debtors      (2,526)     4,019  (6,860)
Increase/(decrease) in creditors        744   (6,568)    5,137
Other operating items                 (213)       870      185
--------------------------------- --------- --------- --------
Net cash inflow from operating       24,166    15,252   31,769
activities
--------------------------------- --------- --------- --------


4. Analysis of net debt

For the period ended 30 June 2000

                      -------- --------- ---------  ----------
                          At 1 Cash flow  Exchange  At 30 June
                       January            movement
                       audited unaudited unaudited   unaudited
                         £'000     £'000     £'000       £'000
--------------------- -------- --------- ---------  ----------
Cash at bank and in      5,096     (446)        80       4,730
hand
Overdrafts               (801)   (1,117)         -     (1,918)
                         4,295   (1,563)        80       2,812
Debt due in less than  (6,505)     5,183         -     (1,322)
one year
Debt due after one    (89,130)   (6,569)       646    (95,053)
year
--------------------- -------- --------- ---------  ----------
Total                 (91,340)   (2,949)       726    (93,563)
--------------------- -------- --------- ---------  ----------