Euromoney sees 9 pct jump in revenue for fourth-quarter
Sept 24 (Reuters) - Euromoney Institutional Investor Plc , a publisher of financial magazines, journals and data products, said it expects a 9 percent rise in fourth-quarter revenue as advertising revenue grew for the first time in two years.
The company, which publishes the Euromoney magazine, said it expects revenue to be about 2 percent higher and an adjusted pretax profit before tax of not less than 114 million pounds ($182.77 million) for the year ending September 30.
Euromoney reported an adjusted pretax profit of 106.8 million pounds and revenue of 391.4 million pounds a year earlier.
Excluding acquisitions, the company said subscription revenue rose 4 percent in the fourth quarter.
Analysts on average are expecting a full-year pretax profit of 114.87 million pounds on revenue of 400.66 million pounds, according to Thomson Reuters I/B/E/S.
"The recovery in U.S. markets, and in particular in the profitability of U.S. financial institutions, has continued, while European markets have remained weak and emerging markets have settled down after the uncertainty earlier in the summer," the company said in a statement.
Shares in the company, in which Daily Mail & General Trust Plc owns a 68 percent stake, closed at 1051 pence on the London Stock Exchange on Monday.
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