Informa Group PLC
26 June 2003
Informa Group plc
Pre-Close Period Statement
Informa is making a pre-close period statement today ahead of its half-year
ending 30 June 2003.
Since Informa's AGM statement in May, trading conditions have shown no signs of
improving and the business environment continues to be challenging. This is
reflected in the Group's revenue which, for the half year, is expected to be
about 10% below that achieved in the same period in 2002.
However, a significant proportion of the Group's profit is typically made in the
second half of the year and with a strong forward programme in place for the
important final quarter, the Group's trading outlook for the year remains
unchanged.
More than half the revenue decrease is due to the closure of non-performing
publishing titles and events that are unlikely to produce satisfactory returns
as conditions improve.
A further significant factor in the revenue decline is as a result of the
re-scheduling of around 120 of our small events from the first half to the
second half of the year to avoid the poor trading conditions during the Iraq war
and the SARS outbreak.
Savings from tight cost control have offset the effects of the revenue decline
and we continue to monitor our cost base very closely.
The Group's largest events have continued to perform strongly, in particular the
3GSM event held in February, the Bluetooth Congress 2003 held in June and the
biennial Cruise+Ferry show held in May. The Group's second largest event, Drug
Discovery Technology, to be held in August, is booking in line with last year.
New product launches announced last year in the Life Sciences division have been
well received by the market. Both their performance and launch costs are in line
with the board's expectations.
- ends -
For further information, please call:
Jim Wilkinson, Finance Director, Informa Group 020 7017 4302
Catherine Lees/ Zoe Sanders, Bell Pottinger Financial 020 7861 3877
This information is provided by RNS
The company news service from the London Stock Exchange
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