Euromoney third-quarter revenue falls; buys certain mining trade assets

July 16 Wed Jul 16, 2014 2:40am EDT

July 16 (Reuters) - Euromoney Institutional Investor Plc , a publisher of financial magazines, journals and data products, reported a 6 percent in fall in third-quarter headline revenue, due largely to the strength of the pound.

The publisher, which generates two-thirds of its revenue in dollars, said the strength of sterling against the U.S. currency would continue to weigh on revenue in the current quarter.

Euromoney also said it was buying assets from a division of U.S.-based Summit Professional Networks for 45.3 million pounds ($77.63 million). The main asset being acquired is the leading African mining investment forum and trade event, Mining Indaba. ($1 = 0.5835 British Pounds) (Reporting by Esha Vaish in Bangalore; Editing by Robin Paxton)

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