Interim Results

Informa Group PLC
3 September 2001

                              Informa Group PLC

                             Interim Results 2001

Operating highlights


  * 10% increase in pre-tax profits to £22.6m**

  * Profit growth in all six of our markets

  * Two major acquisitions in Finance and Insurance and Life Sciences

  * Record breaking events in Telecoms, Energy and Maritime

  * Continued strong growth in electronic subscriptions

** excluding amortisation of goodwill

Informa Group's Chairman Peter Rigby commented:

'The results for the first six months are satisfactory and have been achieved
despite the challenging economic environment. We remain positive about the
strengths of the business which provides business information to six diverse
markets over a number of geographical areas.'

Enquiries:

Peter Rigby/David Gilbertson/Jim Wilkinson - 020 7453 2222

Informa Group plc

Lydia Pretzlik/Fiona Piper - 020 7379 5151

The Maitland Consultancy

Results

We are pleased to report the results for Informa Group for the six months
ended 30 June 2001. Turnover at £179million was 21% up on the comparable
period last year (£147.5m) while pre-tax profits before goodwill amortisation
were 10% ahead at £22.6million. Operating profits (before interest, goodwill
and tax) were 14% higher at £26.6million (2000 £23.4m) and 2% higher on a like
for like basis. Adjusted earnings per share were 12.77pence (2000 11.80pence)
and we will be paying an interim dividend of 2.66pence per share, up 5%, on 12
November 2001 to members on the register on 12 October 2001.

Trading

These results demonstrate the strength of Informa's market leading brands and
the benefits of our spread of operations across six international business
market places. All six of our market sectors increased profits for the half
year despite difficult market conditions. We have reduced staff numbers by 5%
and the related costs of £1.2million have been fully absorbed within the first
half results. This restructuring will produce savings of £4million in a full
year.

Finance and Insurance

Our Finance and Insurance division profits grew by 43% to £5.5million helped
by electronic subscription growth and the acquisition of MCM. MCM provides
electronic services on corporate and government bonds and foreign exchange and
is now fully on board and trading well.

Life Sciences

Life Sciences profits rose by 156% to £1.6million assisted by the successful
integration of the newly acquired BioTechniques publishing business, which is
trading above our expectations. We are also seeing strong organic growth in
this fast developing market. Our flagship Drug Discovery Technologies
conference and exhibition, which falls in the second half of the year, enjoyed
record success in Boston last month, attracting 1300 delegates and more than
330 exhibitors, showing growth of 20% on last year. Life Sciences is now
becoming a significant part of Informa's business and is expected to be an
important growth engine for the future.

Maritime, Trade and Transport

Maritime, Trade and Transport profits grew by 5% year on year to £3.4million
and benefited from a record Cruise + Ferry exhibition held in London in May.
The division had good revenue growth in events and electronic subscription
services and showed a welcome recovery in advertising sales.

Law and Tax

This division saw an 8% improvement in profit to £3.9million deriving mainly
from strong professional publishing results and a successful event programme
in continental Europe generally and Germany in particular.

Commodities and Energy

Commodities and Energy performed well, seeing 17% growth in profits to £
2.2million, with energy-related information services and events showing
particular strength. Commodities benefited from highly profitable events in
coffee, commercial fishing and nickel.

Telecoms and Media

Despite the well-publicised slowdown in external market conditions in the
period, our Telecoms and Media division delivered profits of £10.3million just
ahead of the same period last year. This was largely due to the successful
3GSM World Congress held in Cannes in February.

Despite the difficulties faced by the sector our sponsorship and exhibition
revenues continue to grow. Exhibition stands at the 3GSM Congress, to be held
in Cannes in 2002, are already sold out (with a 15% increase over 2001) and we
have an increase of 49% in exhibition bookings for our 2002 Bluetooth event
compared to the event held in May 2001. Although we have seen lower delegate
attendances at our conferences compared with last year more companies are
being represented and we are continuing to grow market share.

Subscription numbers on our electronic and hard copy periodicals and
information services are holding up well. Our business model has considerable
flexibility and we have reduced costs and dropped conference products which
were likely to become marginal in the second half. We have left creative
muscle intact and Informa's leading position in this market will leave us well
placed to respond to any upturn.

Outlook

We provide business information to six diverse markets over a number of
geographical areas in each of which we have market-leading positions. Much of
our income is steady repeat business and only 11% is advertising related.
Electronic publishing subscriptions are a growing part of our business, now
accounting for 17% of group profits (2000:12%).

We have a strong, flexible and efficient business and we are confident it will
continue to do well and produce good results. We remain positive about the
strengths of Informa's business and its future prospects.

CONSOLIDATED PROFIT AND LOSS ACCOUNT
                                       Continuing    Continuing    Continuing
                                       operations    operations    operations
                                    ------------- ------------- -------------
                                                   Acquisitions         Total
                                    ------------- ------------- -------------
                                             2001          2001          2001
                                    ------------- ------------- -------------
For the period ended 30 June  Notes     Half year     Half year     Half year
2001                                    unaudited     unaudited     unaudited
                                    ------------- ------------- -------------
                                            £'000         £'000         £'000
                                    ------------- ------------- -------------
Turnover                          1       164,773        14,123       178,896

Operating profit before           1        24,434         2,124        26,558
goodwill amortisation
Goodwill amortisation                     (3,520)       (1,082)       (4,602)
-------------------------- -------- ------------- ------------- -------------
Operating profit                  1        20,914         1,042        21,956
Net interest payable                                                  (3,968)
-------------------------- -------- ------------- ------------- -------------
Profit on ordinary activities                                          17,988
before tax
Tax on profit on ordinary                                             (7,003)
activities
-------------------------- -------- ------------- ------------- -------------
Profit on ordinary activities                                          10,985
after tax
Minority interests                                                        142
-------------------------- -------- ------------- ------------- -------------
Profit for the financial                                               11,127
period
Dividends                                                             (3,886)
-------------------------- -------- ------------- ------------- -------------
Retained profit for the                                                 7,241
financial period
-------------------------- -------- ------------- ------------- -------------
Dividends per share                                                     2.66p
-------------------------- -------- ------------- ------------- -------------

Earnings per share
Earnings per share (basic)        2                                     9.03p
Earnings per share (diluted)      2                                     8.78p
Adjusted basic earnings per       2                                    12.77p
share
-------------------------- -------- ------------- ------------- -------------
                                                   Continuing        Continuing
                                                   operations        operations
                                            ----------------- ------------------
                                                        Total             Total
                                            ----------------- ------------------
                                                         2000              2000
                                            ----------------- ------------------
For the period ended 30 June 2001     Notes         Half year           audited
                                                    unaudited
                                            ----------------- ------------------
                                                        £'000             £'000
                                            ----------------- ------------------
Turnover                                  1           147,529           296,992

Operating profit before goodwill          1            23,419            46,811
amortisation
Goodwill amortisation                                 (2,622)           (5,900)
---------------------------------- -------- ----------------- ------------------
Operating profit                          1            20,797            40,911
Net interest payable                                  (2,839)           (7,130)
---------------------------------- -------- ----------------- ------------------
Profit on ordinary activities before                   17,958            33,781
tax
Tax on profit on ordinary activities                  (6,780)          (12,400)
---------------------------------- -------- ----------------- ------------------
Profit on ordinary activities after                    11,178            21,381
tax
Minority interests                                       (20)             (174)
---------------------------------- -------- ----------------- ------------------
Profit for the financial period                        11,158            21,207
Dividends                                             (2,981)           (8,922)
---------------------------------- -------- ----------------- ------------------
Retained profit for the financial                       8,177            12,285
period
---------------------------------- -------- ----------------- ------------------
Dividends per share                                     2.53p             7.60p
---------------------------------- -------- ----------------- ------------------

Earnings per share
Earnings per share (basic)                2             9.56p            18.13p
Earnings per share (diluted)              2             9.42p            17.84p
Adjusted basic earnings per share         2            11.80p            23.17p
---------------------------------- -------- ----------------- ------------------

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
                                                  2001         2000        2000
                                          ------------ ------------ -----------
For the period ended 30 June 2001            Half year    Half year       Total
                                             unaudited    unaudited
                                                                        Audited
                                          ------------ ------------ -----------
                                                 £'000        £'000       £'000
                                          ------------ ------------ -----------
Profit for the financial period                 11,127       11,158      21,207
Currency translation differences on              2,597        1,213       1,156
foreign currency net investments
                                          ------------ ------------ -----------
Total gains and losses recognised since         13,724       12,371      22,363
last accounts
                                          ------------ ------------ -----------

CONSOLIDATED CASH FLOW STATEMENT
                                               2001          2000         2000
                                          ------------ ------------ -----------
For the period ended 30 June              Half year     Half year        Total
2001                                      unaudited     unaudited
                                                                       Audited
                                          ------------ ------------ -----------
                                Notes         £'000         £'000        £'000
---------------------------- -------- ---------------- ------------ -----------
Net cash in flow from operating     3        15,745        24,166       46,474
activities
Return on investments and                   (3,937)       (2,564)      (8,563)
servicing of finance
Taxation                                    (3,728)       (3,041)     (10,991)
Capital expenditure                         (6,218)       (3,164)      (6,584)
Acquisitions and disposals                 (58,326)      (12,195)     (32,226)
Equity dividends paid                       (6,438)       (5,465)      (8,433)
---------------------------- -------- ---------------- ------------ -----------
Cash outflow/(inflow) before               (62,902)       (2,263)     (20,323)
financing
Financing                                    62,526           700       16,044
---------------------------- -------- ---------------- ------------ -----------
(Decrease)/increase in cash in                (376)       (1,563)      (4,279)
the period
---------------------------- -------- ---------------- ------------ -----------

RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT
                                                2001          2000         2000
                                       ------------- ------------- ------------
For the period ended 30 June               Half year     Half year        Total
2001                                       unaudited     unaudited
                                                                        audited
                                       ------------- ------------- ------------
                                 Notes         £'000         £'000        £'000
----------------------------- -------- ------------- ------------- ------------
(Decrease)/increase in cash in                 (376)       (1,563)      (4,279)
the period
Cash inflow from increase in                 (9,774)       (1,386)     (16,388)
debt financing
----------------------------- -------- ------------- ------------- ------------
Change in net debt resulting                (10,150)       (2,949)     (20,667)
from cash flows
----------------------------- -------- ------------- ------------- ------------
Translation differences                          673           726          626
----------------------------- -------- ------------- ------------- ------------
Movement in net debt in the                  (9,477)       (2,223)     (20,041)
period
Net debt at the start of the         4     (111,381)      (91,340)     (91,340)
period
----------------------------- -------- ------------- ------------- ------------
Net debt at the end of the           4     (120,858)      (93,563)    (111,381)
period
----------------------------- -------- ------------- ------------- ------------

CONSOLIDATED BALANCE SHEET
                                                 2001          2000        2000
                                          ----------- ------------- -----------
At 30 June 2001                               30 June   31 December     30 June
                                            unaudited       audited   unaudited
                                          ----------- ------------- -----------
                                    Notes       £'000         £'000       £'000
-------------------------------- -------- ----------- ------------- -----------
Fixed assets
Intangible assets                             188,432       131,166     110,964
Tangible assets                                22,123        16,095      14,917
Investments                                     4,770         3,434       3,162
-------------------------------- -------- ----------- ------------- -----------
                                              215,325       150,695     129,043
Current assets
Stocks                                          7,212         7,648       5,318
Debtors                                        71,037        69,743      48,054
Cash at bank and in hand                4       1,853         3,047       4,730
-------------------------------- -------- ----------- ------------- -----------
                                               80,102        80,438      58,102

Creditors: amounts falling due              (124,536)     (134,620)   (107,018)
within one year
-------------------------------- -------- ----------- ------------- -----------
Net current liabilities                      (44,434)      (54,182)    (48,916)
-------------------------------- -------- ----------- ------------- -----------
Total assets less net current                 170,891        96,513      80,127
liabilities
Creditors: amounts falling due              (120,261)     (109,565)    (96,798)
after more than one year
Provisions for liabilities and                  (510)         (674)     (1,453)
charges
Minority interests                               (76)         (218)        (64)
-------------------------------- -------- ----------- ------------- -----------
Net assets/(liabilities)                     (50,044)      (13,944)    (18,188)
-------------------------------- -------- ----------- ------------- -----------
Capital and reserves
Called up share capital                        12,785        11,800      11,782
Share premium account                         120,098        66,933      66,758
Special reserve                                     2             2           2
Other reserve                                  37,398        37,398      37,398
Profit and loss account                     (120,239)     (130,077)   (134,128)
-------------------------------- -------- ----------- ------------- -----------
Shareholders' funds - equity                 (50,044)      (13,944)    (18,188)
-------------------------------- -------- ----------- ------------- -----------



NOTES

1. Segmental analysis

Underlying operating profit in the segmental analysis excludes the
amortisation of goodwill and exceptional items.
                                                   Turnover
                                             2001             2000         2000
                                   --------------   -------------- -------------
                                        Half year        Half year      audited
                                        unaudited        unaudited
                                   --------------   -------------- -------------
                                            £'000            £'000        £'000
-------------------------------    --------------   -------------- -------------
Analysis by market sector
Telecoms and Media                         50,882           42,380       74,693
Maritime, Trade and Transport              28,609           24,860       55,278
Financial and Insurance                    41,202           24,556       53,235
Law and Tax                                29,210           30,117       56,526
Commodities and Energy                     15,616           15,851       32,064
Life Sciences                              12,383            7,940       19,724
Other                                         994            1,825        5,472
-------------------------------    --------------   -------------- -------------
                                          178,896          147,529      296,992
-------------------------------    --------------   -------------- -------------




                                         Profit/(loss) before interest
                                             2001             2000         2000
                                   --------------   -------------- -------------
                                        Half year        Half year      audited
                                        unaudited        unaudited
                                   --------------   -------------- -------------
                                            £'000            £'000        £'000
-------------------------------    --------------   -------------- -------------
Analysis by market sector
Telecoms and Media                          9,753            9,900       17,136
Maritime, Trade and Transport               2,624            2,602        5,867
Financial and Insurance                     3,813            3,036        6,456
Law and Tax                                 3,314            3,388        6,250
Commodities and Energy                      1,763            1,389        3,163
Life Sciences                               1,143              563        2,467
Other                                       (454)             (81)        (428)
-------------------------------    --------------   -------------- -------------
                                           21,956           20,797       40,911
-------------------------------    --------------   -------------- -------------






                                             Underlying profit/(loss)
                                              2001          2000          2000
                                     ------------- -------------- --------------
                                         Half year     Half year
                                         unaudited     unaudited       audited
                                     ------------- -------------- --------------
                                             £'000         £'000         £'000
--------------------------------    --------------   -------------- ------------
Analysis by market sector
Telecoms and Media                          10,320        10,218        18,195
Maritime, Trade and Transport                3,447         3,283         7,282
Financial and Insurance                      5,478         3,838         8,047
Law and Tax                                  3,900         3,616         6,905
Commodities and Energy                       2,250         1,922         4,190
Life Sciences                                1,595           624         2,574
Other                                        (432)          (82)         (382)
--------------------------------    --------------   -------------- ------------
                                            26,558        23,419        46,811
--------------------------------    --------------   -------------- ------------



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.
                                               2001          2000          2000
                                      ------------- ------------- -------------
                                          Half year     Half year       audited

                                          unaudited     unaudited
                                      ------------- ------------- -------------
                                              £'000         £'000         £'000
------------------------------------- ------------- ------------- -------------
Profit for the financial period              11,127        11,158        21,207
Adjustments:
Amortisation of goodwill                      4,602         2,622         5,900
------------------------------------- ------------- ------------- -------------
Adjusted earnings                            15,729        13,780        27,107
------------------------------------- ------------- ------------- -------------
Weighted average number of equity
shares
- for earnings and adjusted earnings    123,212,504   116,773,064   116,996,711
Effect of dilutive share options          3,562,413     1,662,864     1,897,334
Weighted average number of equity
shares
- for diluted earnings                  126,774,917   118,435,928   118,894,045
------------------------------------- ------------- ------------- -------------
Earnings per equity share                     9.03p         9.56p        18.13p
Diluted earnings per equity share             8.78p         9.42p         17.84
Adjusted earnings per equity share           12.77p        11.80p        23.17p
------------------------------------- ------------- ------------- -------------



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


                                           2001            2000            2000

                                 --------------  --------------  --------------
                                      Half year       Half year           Total
                                      unaudited       unaudited

                                                                        audited
                                 --------------  --------------  --------------
                                          £'000           £'000           £'000
-------------------------------  --------------  --------------  --------------
Operating profit                         21,956          20,797          40,911
Depreciation charges                      2,916           1,715           4,304
Amortisation of goodwill                  4,602           2,622           5,900
Loss on sale of tangible fixed               10              10              27
assets
Decrease/(increase) in stocks               507           1,017         (1,356)
Decrease/(increase) in debtors            7,079         (2,526)        (20,549)
(Decrease)/Increase in                 (21,049)             744          17,274
creditors
Other operating items                     (276)           (213)            (37)
-------------------------------  --------------  --------------  --------------
Net cash inflow from operating           15,745          24,166          46,474
activities
-------------------------------  --------------  --------------  --------------



4. Analysis of net debt

For the period ended 30 June 2001
                            At 1          Reclassi- Cash flow  Exchange   At 30
                         January          fications            movement    June
                         audited          unaudited unaudited
                                                             unaudited unaudited
------------------ --------------   --------------- --------- --------- --------
                           £'000            £'000     £'000     £'000     £'000
------------------ --------------   --------------- --------- --------- --------
Cash at bank and in        3,047                -   (1,278)        85     1,854
hand
Overdrafts               (2,986)                -       903         -    (2,083
------------------ --------------   --------------- --------- --------- --------
                              61                -     (375)        85     (229)
Bank loans due in        (6,392)                -     2,680         -   (3,712)
less than one year
Loan notes due in           (75)            (429)        64         -     (440)
less than one year
Bank loans due after   (104,546)                -  (12,519)       588 (116,477)
one year
Loan notes due after       (429)              429         -         -         -
one year
------------------ --------------   --------------- --------- --------- --------
Total                  (111,381)                -  (10,150)       673 (120,858)
------------------ --------------   --------------- --------- --------- --------