By Scott Kanowsky
Investing.com -- U.K. exhibitions group Informa PLC (LON:INF) has raised its full-year sales and income outlook, citing strong performance for live and on-demand events around the world that has offset the impact of COVID-19 rules in China.
The London-based firm now expects 2022 adjusted operating profit to climb between £490 million and £505 million (£1 = $1.1768), up from its prior prediction of £470M - £490M. Revenue is also seen increasing by £2.3 billion - £2.35 billion, an upward revision of its previous estimate of £2.1B - £2.25B.
Demand at its business-to-business markets division has surged, Informa said, with underlying revenue - excluding China - nearing about 85% of pre-pandemic levels and outpacing the company's expectations.
"Growth has been consistent across all specialist markets and all geographic regions where COVID restrictions have been removed and are fully open," Informa said in a statement on Monday.
However, this new guidance assumes that no further revenue will be registered in November and December in mainland China, where events activity is still being constrained by ongoing COVID-19 restrictions.
The company also warned that is "not immune" to the possible effects of inflation, interest rate hikes, and higher energy costs on operating costs and market fluctuations.
London-listed shares in Informa were in the green in early afternoon trading on Monday.