Informa profit rises despite decline in events business
Feb 21 (Reuters) - British business media group Informa Plc reported a 7 percent rise in its full-year adjusted pretax profit as its academic book publishing business offset a decline in its events business.
Informa, which publishes real-time news, research, market data, as well as over 55,000 academic books and journals, said it did not expect any significant improvement in economic conditions this year. But it expects underlying revenue growth across all three business divisions.
Adjusted pretax profit increased to 317.4 million pounds ($485.7 million) for the year ended Dec. 31, from 295.9 million pounds a year earlier. Revenue declined about 3 percent to 1.23 billion pounds.
Revenue from its academic information business rose 5 percent to 340.3 million pounds. Revenue from its events business fell 7.8 percent to 535.6 million pounds.
Informa also said it signed a 30-year contract to run Agrishow in Brazil.
Shares in the company, a FTSE-100 constituent, were down 1.6 percent at 480.1 pence in early trading on the London Stock Exchange on Thursday.
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