Monday 19 March 2018

Financials publisher Euromoney sees 9 pct jump in revenue

Euromoney Institutional Investor Plc, a publisher of financial magazines, journals and data products, said it expects a 9pc rise in fourth-quarter revenue as advertising revenue grew for the first time in two years.

The company, which publishes the Euromoney magazine, said it expects revenue to be about 2 percent higher and an adjusted pretax profit before tax of not less than £114m (€135m) for the year ending September 30.

Euromoney reported an adjusted pretax profit of £106.8m million pounds and revenue of £391.4m a year earlier.

Excluding acquisitions, the company said subscription revenue rose 4 percent in the fourth quarter.

Analysts on average are expecting a full-year pretax profit of £114.87m on revenue of £400.66m, according to Thomson Reuters I/B/E/S.

"The recovery in U.S. markets, and in particular in the profitability of U.S. financial institutions, has continued, while European markets have remained weak and emerging markets have settled down after the uncertainty earlier in the summer," the company said in a statement.

Shares in the company, in which Daily Mail & General Trust Plc owns a 68pc stake, closed at 1051 pence on the London Stock Exchange on Monday.

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