International financial publishing group Euromoney has reported further growth in its subscriptions and advertising revenues, with the company on track to at least match last year’s profit levels.
The company, which is majority-owned by the Daily Mail & General Trust, said today that it expected to report a half-year pre-tax profit of at least £40m for the period from October to the end of March – which is stable compared with the same period last year.
In a trading update covering the six months to the end of March, Euromoney said subscriptions continued to grow, albeit at a slower rate since January. It said revenue from events looked positive for the next three months, which is traditionally the division’s most important period.
However, revenue from training had struggled to grow because of squeezed budgets and the unrest in the Middle East, which is a key market for the business.
Euromoney is one of Europe’s largest business and financial magazine publishers and has a market value of about £835m.