Informa raises 2023 revenue outlook and boosts share buyback program

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Informa raises 2023 revenue outlook and boosts share buyback program
Credit: © Reuters.

Informa PLC, a leading international events, intelligence, and scholarly research group, has raised its full-year revenue guidance for 2023 following a robust performance that featured a 32% increase in underlying revenue. The company also announced an expansion of its share buyback program to £1.15 billion.

CEO Stephen Carter outlined the company's strategy for 2024, which includes refining product and service offerings, fostering organic growth, and leveraging cash flows and balance sheet strength to capitalize on expansion opportunities. This strategic focus is set against the backdrop of market volatility, with Informa still projecting around £1 billion of revenue for 2024.

The upgraded financial outlook and increased share repurchase initiative reflect the company's confidence in its business model and future prospects. The adjustments to forecasts and capital allocation underscore Informa's commitment to delivering value to shareholders while strategically positioning itself for sustained growth in the coming years.

InvestingPro Insights

InvestingPro data and tips suggest a promising outlook for Informa PLC. The company's market capitalization stands at a robust $12404.15 million, indicating a strong market presence. The P/E ratio at 15.16 signifies that the market has positive expectations about the company's earnings. Furthermore, the company's revenue growth in the last twelve months as of Q2 2023 is an impressive 42.21%, highlighting its robust financial performance.

InvestingPro Tips also corroborate this positive outlook. The company's high earnings quality is evident as its free cash flow exceeds net income. This, coupled with the fact that management has been aggressively buying back shares, signals a strong belief in the company's future performance. Additionally, the expectation of net income growth this year and the prediction of the company's profitability further underline the company's strong financial prospects.

InvestingPro offers numerous additional tips and insights, providing a more comprehensive understanding of the company's financial health and future prospects. This includes valuable information such as the company's debt level, short-term obligations, and more. Such insights can be instrumental in making informed investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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