July 25, 2018 / 6:27 AM / 4 months ago

Informa posts higher profit, raises cost savings target from UBM deal

July 25 (Reuters) - British event organiser Informa Plc on Wednesday raised its cost savings target from its deal to buy rival UBM Plc and reported a 3.3 percent rise in first-half adjusted profit, as it begins to benefit from the acquisition.

Informa, which closed the 3.9 billion pound ($5.13 billion) UBM purchase last month, said it now expects cost savings of 75 million pounds, higher than the 60 million pounds it estimated in January.

The company’s adjusted operating profit rose to 294.4 million pounds for the six months to June 30, from 284.9 million pounds a year earlier. ($1 = 0.7606 pounds) (Reporting by Muvija M in Bengaluru; Editing by Amrutha Gayathri)

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