Business publishing giant Informa today announced ‘strong trading’ and said its full-year results would meet expectations in a sign that the B2B sector is weathering the economic crisis well.
In a trading update today the publisher of 2,500 subscriptions based products and services – including Lloyds List – said: ‘Whilst no business will be totally immune from the economic backdrop, our publishing businesses have continued to grow well.
‘Our publishing sales year to date are up 10 per cent. We are confident that renewal rates for our substantial academic business in the final quarter of 2008 will be as strong as they have been in previous years.”
Informa is also a major specialist book publishers and produces 12,000 events around the world. It operates in 80 countries and employs 10,000 people.
With over 40 per cent of Informa’s profits coming in dollars it has been helped by that currency’s recent strengthening against sterling.
Informa said today: ‘The resilience of our business combined with our strong cash conversion gives comfortable headroom within our bank facilities.”
In July Informa reported interim operating profit up 21 per cent year-on-year to £77.7m on revenue up 18 per cent to £627.6m.