May 15 Euromoney Institutional Investor Plc , a publisher of financial magazines, journals and data products, said trading conditions in the first half remained "challenging" as leading financial institutions cut costs.
The company, which generates two-thirds of its revenue outside the UK, also said the strength of sterling versus the dollar began to have a negative impact on profit towards the end of the first half and is expected to have a more significant impact in the second half of its financial year.
The publisher said revenue for the six months ended March 31 rose to 195.8 million pounds ($328.50 million) from 187.3 million pounds a year earlier. Pretax profit was largely unchanged at 42.8 million pounds.
Shares of the company, in which Daily Mail & General Trust Plc owns a 68 percent stake, closed at 1139 pence on Wednesday. ($1 = 0.5960 British Pounds) (Reporting by Noor Zainab Hussain and Aashika Jain in Bangalore; Editing by Robin Paxton)
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