* Costs hit H1 op profit
* Raises takeover savings target
* Shares down 3.7 pct (Adds detail)
By Muvija M
July 25 (Reuters) - British event organiser Informa Plc on Wednesday said costs related to its takeover of rival UBM Plc could reach 100 million pounds ($132 million) after reporting lower mid-year earnings, sending its shares lower.
Statutory operating profit fell to 151.6 million pounds from 182 million hit by one-off acquisition costs. Revenue rose 4.6 percent to 957.1 million pounds.
Informa, which closed its 3.9 billion pound ($5.13 billion) takeover of UBM deal last month, said costs could reach 100 million pounds.
It raised its cost savings target by 15 million pounds to 75 million and said it would invest about 10 million in its fashion events business over three years.
Barclays analysts cut their earnings per share target on Informa by one percent for 2019, citing the higher investment.
Informa’s London shares were down 3.7 percent at 1127 GMT, erasing earlier gains.
Analysts have expressed concerns over the fashion events business, UBM’s largest, after it dragged on its organic revenue growth in 2017.
“There has been some change in both volume and value in the fashion events industry. Ultimately, the trade show business is the mirror of the industry itself,” CEO Stephen Carter told Reuters on a call.
He said the fashion industry is facing structural changes as shoppers increasingly turn to online ordering and delivery.
The company, which organises over 500 exhibitions each year, stuck to its 3.5 percent underlying revenue growth forecast for 2018.
Event organisers have been benefiting from their focus on business-to-business customers as companies look for ways to connect directly with customers in a changing media and advertising landscape.
$1 = 0.7603 pounds Reporting by Muvija M in Bengaluru; Editing by Amrutha Gayathri