LONDON (dpa-AFX) - Informa PLC (INFMF.PK), a publishing, business intelligence, and exhibitions group, on Wednesday reported a surge in its pre-tax earnings for the half year, with 53 percent growth in revenues, reflecting strong performances in all businesses. The Group expects revenues for the year to be at the top-end of the prior guidance.
For the first half, the Group's Statutory profit before tax surged to 314.6 million pounds from 41.5 million pounds, and adjusted profit before tax rose to 416.3 million pounds from last year's 174.4 million pounds.
On a per share basis, statutory earnings grew to 17.9 pence from 2.6 pence, while adjusted earnings rose to 22.5 pence from 9.6 pence last year, reflecting strong growth in earnings and the benefit from recent share buybacks. Adjusted Operating Profit for the period surged 102.9 percent to 413.5 million pounds.
Informa's revenues for the half year increased to 1.52 billion pounds from 993.5 million pounds last year. The Group said its results are reported on continuing operations basis.
Looking ahead, for the full year 2023, the Group said, it is on track to deliver revenues at the top-end of prior guidance range of 2.95 billion - 3.05 billion pounds, implying 30 percent growth. Adjusted operating profit is also expected to be at the top-end of the prior range of 750 million - 790 million pounds, implying 50 percent growth over last year.
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