Informa: FTSE 100 events giant boosted by India and Middle East expansion
Events and digital services giant Informa said it was on track to hit full-year guidance, with growth driven by its position in India and the Middle East.
The FTSE 100 firm expects to hit already upgraded full-year guidance of over £3.5bn in revenue and £975m in adjusted operating profit. Free cash flow is also expected to increase to £750m.
Informa said it had seen growth in all major regions, driven in part by a 10 per cent market expansion into India, Middle East and Africa (IMEA).
Through the first ten months of 2024, the company reported double-digit underlying revenue growth of 10.7 per cent.
It also noted a bullish performance in IMEA, across rapidly growing markets including Bahrain, Egypt, India, Saudi Arabia, Turkey and the UAE.
The Americas also performed strongly, making up around 45 per cent of group revenue over the period.
Stephen Carter, chief executive, said: “Informa continues to deliver a strong performance in 2024, with forward bookings providing momentum into 2025.
He added: “This year sees us complete our four-year GAP2 programme, where our performance has demonstrated the structural growth in our chosen markets, our geographic strength in the US and IMEA in particular, and the power of our market-leading specialist B2B Brands and proprietary first party data.”
Shares are up nearly 10 per cent this year to date.