Euromoney reports small increase in Q1 revenue

International online information and events group Euromoney Institutional Investor has reported a small increase in its revenue during the period from October 1st to January 30th, according to an interim management statement issued by the company on Thursday.

International online information and events group Euromoney Institutional Investor has reported a small increase in its revenue during the period from October 1st to January 30th, according to an interim management statement issued by the company on Thursday.

The company recorded a total revenue for the period of £95.1m compared to £94.6m in the corresponding quarter in 2012.

Since reporting its 2012 results in November, the company stated that trading had continued in line with the board's expectations. Challenging trading conditions were experienced in the second half of financial year 2012 which had continued into the first quarter of financial year 2013, the report indicated.

Advertising revenue declined by 8% at constant current to £11.2m and subscriptions declined 2% at constant currency to £49m.

The decline in subscription revenues was described as being in line with the gradual decrease in growth rates experienced since the end of 2011.

The decline in advertising was described as being consistent with a trend seen in the second half of financial year 2012.

Net debt as of December 31st was described as £26.5m, representing a decrease of £4.3m since the year-end.

MF

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