Business
Half-year Report
Half-year Report.
About this update from Informa Plc
[{"type":"text","content":"\n\nInforma PLC 2024 Half-Year Results\n24 July 2024\nOperating Performance, Expansion and Balance Sheet Strength\n\nFull year guidance increased, recommended offer for Ascential and credit rating upgrade\n\nInforma (LSE: INF.L), the international B2B Events, B2B Digital Services and Academic Markets Group today published half year results for 2024, delivering underlying operating profit growth of 18.8%, revenue growth of 11% and dividend growth of 10%, thereby increasing full year guidance. Separately, the Group today announced a recommended cash offer for Ascential plc.\n\nStephen A. Carter, Group Chief Executive, Informa PLC, said:\n\"As the world digitises at pace, our brands, our content and our market positions are becoming more valuable. This is moving Informa into a faster growth lane for performance, expansion and returns, as demonstrated by our full year target of up to £1bn of adjusted operating profit and today's recommended offer for Ascential plc.\"\n\n2024 Half Year Results…\n· Double-digit underlying growth: Underlying revenue growth of 11.0% and underlying adjusted operating profit growth of 18.8% in H1 2024, reflecting further strong growth in B2B Markets businesses (Informa Markets, Informa Connect and Informa Tech) and accelerating growth in Academic Markets;\n· Double-digit reported growth: On a reported basis, Informa delivered double-digit growth in Revenues (+11.5% to £1,695.3m), Adjusted Operating Profit (+12.9% to £466.9m) and Free Cash Flow (+27.1% to £285.5m);\n· Increased 2024 full year guidance: Underlying growth, international expansion and AI partnerships lead to a further increase in 2024 full year guidance. Results now expected to be above the top-end of the guidance range, including double-digit underlying revenue growth and an ambition to deliver adjusted operating profit of up to £1bn;\n· Higher operating margin: Adjusted operating margin increased to 27.5% (H1 2023: 27.2%). Continuing conversion of revenues to profits supports further margin expansion across the full year;\n\n· Growth in adjusted earnings: Adjusted Diluted Earnings per Share +5.8% to 23.8p (H1 2023: 22.5p), with underlying growth balanced by currency movements, biennial phasing...