🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Informa reassures about trading and sets out new structure after completing Ascential acquisition

Published 09/10/2024, 11:01
Updated 09/10/2024, 13:10
© Reuters.  Informa reassures about trading and sets out new structure after completing Ascential acquisition
UK100
-
INF
-
ASCL
-

Proactive Investors - Informa PLC (LON:INF) shares gave a lukewarm welcome to confirmation that trading remained in line with guidance and news of its new corporate structure after completing the acquisition of Ascential PLC (LON:ASCL) this week.

The FTSE 100 events and exhibitions group, which agreed the £1.2 billion takeover of the Cannes Lions owner in July, said underlying trading performance "remains strong" and it remains on track to meet previously upgraded full-year guidance, with the acquisition of NASDAQ-listed TechTarget also expected to be completed this year.

Full-year targets include double-digit underlying revenue growth, adjusted operating profit of at least £970 million and free cash flow of at least £740 million.

For next year, Informa is creating three distinct event businesses, with the key events in a business called Informa Festivals, wrapping Ascential's Cannes Lions advertising week and Money20/20 for the fintech industry with cybersecurity conference Black Hat and London Tech Week.

The other two businesses are Informa Markets for "transaction-led B2B events" and Informa Connect for "content-led B2B events".

Chief executive Stephen Carter, the former boss of Ofcom and PR group Brunswick and Gordon Brown's chief of strategy, who has led Informa since 2013, said the strategy over the last four years has been "to build further strength and depth in B2B businesses, targeting new growth opportunities as the live B2B events market segments and becomes increasingly sophisticated, and B2B digital services mature".

He said completing the Ascential acquisition to create the Informa Festivals and the prospective creation of Informa TechTarget division "will establish leadership and scale in all our chosen B2B market segments, complementing our strength in academic markets and creating a platform for growth from 2025 to 2030".

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.