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March 6 British business media group Informa Plc
said its revenue rose 11 percent in 2016, helped by
strong trading in its global exhibitions business and favourable
Informa's shares rose as much as 3.7 percent to 698.50 pence
in early trading on Monday.
The company, which organises 180 exhibitions across the
world, said its revenue rose to 1.35 billion pounds ($1.66
billion) last year.
Informa has been trying to grow its exhibitions business,
which accounts for nearly a fourth of its total revenue, through
a string of acquisitions to weather the impact of softness in
the academic publishing and business intelligence businesses.
Last week, the company agreed to buy U.S. boat show operator
Yachting Promotions Inc for 106 million pounds.
Informa also bought U.S.-based information services company
Penton last year for 1.18 billion pounds, making it one of the
three largest exhibitions groups in the United States, with more
than 70 U.S. exhibitions annually.
Informa said it was targeting 14 million pounds of net
annualised synergies by 2018 and said it expected to meet at
least half of the target this year.
"In 2017 the combination of new leadership in the U.S.,
Brexit negotiations in the UK and political elections in
mainland Europe suggest the backdrop is likely to remain
volatile," the company said, adding that it would expand
internationally and increase recurring and predictable revenues.
North America contributed more than 46 percent of the
company's total revenue in 2016.
Global exhibitions business revenue grew 16.9 percent to
306.9 million pounds in 2016, the company said.
Revenue from the academic publishing unit, which publishes
specialist books and journals, rose 9.6 percent to 490.4 million
pounds last year.
($1 = 0.8144 pounds)
(Reporting by Arathy S Nair in Bengaluru; Editing by Gopakumar
Warrier and Amrutha Gayathri)