Euromoney sees 5 pct rise in first-half revenue
March 26 (Reuters) - Euromoney Institutional Investor Plc , a publisher of business magazines and journals, said it expected first-half revenue to rise, pinning its hopes on improving financial services markets and contribution from acquisitions.
The company, which publishes the Euromoney magazine, expects revenue to rise about 5 percent and an adjusted pretax profit of not less than 52 million pounds ($85.8 million) for the six months ended March 31.
Analysts on average are expecting a pretax profit of 55.1 million pounds on revenue of 197 million pounds, according to Thomson Reuters I/B/E/S.
The company reported an adjusted pretax profit of 52.4 million pounds and revenue of 187.3 million pounds in the same period a year earlier.
Euromoney, however, expects first-half adjusted operating margin to be about 2 percentage points lower than the previous year due to continued strategic investment in digital publishing.
Shares in the company, in which Daily Mail & General Trust Plc owns a 68 percent stake, closed at 1268 pence on the London Stock Exchange on Tuesday. ($1 = 0.6059 British Pounds) (Reporting by Aastha Agnihotri in Bangalore; Editing by Gopakumar Warrier)
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