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March 6 (Reuters) - 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 currency impact.
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)