Informa set to meet £1.7bn annual sales target as events resume
FTSE 100 firm Informa today said it was on track to deliver its annual base goal of £1.7bn in sales as physical events returned in key markets such as the US and China.
The world’s biggest event’s organiser said it expected to stay cashflow-positive as its subscription businesses grow, while the firm recovers from cancellations of physical gatherings last year.
Informa has gradually shifted its focus more towards virtual events and its digital services, which include academic publisher Taylor & Francis and the historic Lloyd’s List shipping journal.
Following the trading update, shares in Informa rose 0.5 per cent as markets opened.
Despite swinging to a £1.1bn pre-tax loss in 2020, Informa cut costs by laying off staff and closing offices.
While navigating its way through the pandemic, the company agreed in April to merge its financial intelligence business with US-based Novantas.
It is now assessing opportunities for its Barbour ABI, Barbour EHS and Asset Intelligence businesses, with a review expected by the end of the year.
“Improving growth in subscriptions, ongoing expansion in digital services and the enduring strength of our B2B brands and platforms, give us increasing confidence in revitalisation and growth through 2022-2024,” chief executive officer Stephen Carter said.