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Informa profit rises on growth in academic publishing unit
February 21, 2014 / 8:15 AM / 4 years ago

Informa profit rises on growth in academic publishing unit

Feb 21 (Reuters) - British business media group Informa Plc reported a 3 percent rise in full-year profit, helped by stronger performance at its academic publishing business in the second half.

The company, which publishes real-time news, research, and market data, said that despite the impact of currency, it would focus on operational fitness to deliver growth in adjusted earnings per share in 2014.

Informa sold its non-core corporate training businesses for $180 million last July to focus on its core events and academic publishing businesses.

Adjusted pretax profit from continuing operations rose to 307.6 million pounds ($512.44 million) in the year ended Dec. 31 from 298.2 million pounds a year earlier.

Organic revenue from continuing operations rose 1.5 percent to 1.13 billion pounds. Organic revenue at its academic publishing business - which accounts for about a third of total revenue - grew 5.3 percent.

Informa shares were trading up 2.5 percent at 535.5 pence in early trading on the London Stock Exchange. ($1 = 0.6003 British pounds) (Reporting by Abhirup Roy in Bangalore; Editing by Supriya Kurane)

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