International exhibitions, events, information services and publishing group Informa has released financial results for the six months to 30 June 2019 highlighting continued growth and completion of its 12-month Accelerated Integration Plan (AIP), including the integration of the UBM business.
Strong revenue growth of 47.1% was reported (3.4% underlying), while adjusted operating profit growth of 48% was reported (8.2% underlying) for the Group in the first half. The 2019 H1 revenue overall figure was put at £1,407.6m compared to £957.1m for the same period in 2018.
The Group reported statutory operating profit up 65.5% to £248.3m (H1 2018: £150.0m).
Stephen A. Carter, Group Chief Executive, said: “A year on from the acquisition of UBM, the enlarged Informa Group is performing to plan, delivering a further period of growth in revenue, adjusted operating profit, free cash flow and dividends.”
Carter added: “Our Advanced Learning businesses remain resilient, our Data, Information and Communities businesses are performing well, and despite previously identified headwinds in our Fashion and Middle East businesses, we continue to grow consistently in Events and Exhibitions. This puts us on track to deliver our targets for 2019 and provides a strong foundation for consistent future growth and performance.”
The Informa Markets division posted continued growth, reflecting international reach and focus on major B2B brands with depth in specialist markets; H1 pro-forma revenue growth was 8.4% (4.4% underlying).
Informa Connect reported continued focus on branded confexes and events in Life Sciences and Finance.
With the AIP and digestion of UBM completed on schedule, teams combined, leadership confirmed, brands aligned, the Group expects to deliver £50m cost synergies in 2019, with more than £20m realised in H1.