May 16, 2013 / 6:26 AM / 4 years ago

Euromoney first-half profit rises

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May 16 (Reuters) - Euromoney Institutional Investor Plc , a publisher of financial magazines, journals and data products, reported an 8 percent rise in first-half profit as it cut costs to offset a decline in subscription revenue.

The company, which publishes the Euromoney magazine, said trading in the second half of the fiscal year was in line with its expectations.

The company said adjusted pretax profit rose to 52.4 million pounds ($79.78 million) for the six months ended March from 48.6 million pounds a year earlier. Revenue fell 1 percent to 187.3 million pounds.

Analysts on average had expected a pretax profit of 54 million pounds and revenue of 155.3 million pounds, according to Thomson Reuters I/B/E/S.

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