By Scott Kanowsky
Investing.com -- U.K. exhibitions group Informa PLC (LON: INF ) has raised its full-year sales and income outlook, citing strong performance for live and on-demand events around the world that has offset the impact of COVID-19 rules in China.
The London-based firm now expects 2022 adjusted operating profit to climb between £490 million and £505 million (£1 = $1.1768), up from its prior prediction of £470M - £490M. Revenue is also seen increasing by £2.3 billion - £2.35 billion, an upward revision of its previous estimate of £2.1B - £2.25B.
Demand at its business-to-business markets division has surged, Informa said, with underlying revenue - excluding China - nearing about 85% of pre-pandemic levels and outpacing the company's expectations.
"Growth has been consistent across all specialist markets and all geographic regions where COVID restrictions have been removed and are fully open," Informa said in a statement on Monday.
However, this new guidance assumes that no further revenue will be registered in November and December in mainland China, where events activity is still being constrained by ongoing COVID-19 restrictions.
The company also warned that is "not immune" to the possible effects of inflation, interest rate hikes, and higher energy costs on operating costs and market fluctuations.
London-listed shares in Informa were in the green in early afternoon trading on Monday.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.