Euromoney post strong profits but warns on bank revenues

The financial data publishing company Euromoney has seen revenues rise 10% in the full year to September.

The firm, which is 66.3% owned by the Daily Mail and General Trust, also saw adjusted pre-tax profits rise by 7%.

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This year's results have enabled it to increase the final dividend to 12p per share giving a total for the year of 18.75p (2010: 18.0p).

On the surface then, Euromoney is doing well. However, commenting on the results Chairman Padraic Fallon warned: "The environment's getting tougher and more volatile revenues like advertising have shown signs of weakness."

This is likely to be a nod in the direction of the banking sector from which Euromoney generates much of its revenues. As banks reduce their spending in response to the Euro crisis, Euromoney may well find itself finding profits harder to come by. Nevertheless, Fallon also says that, for the time being, "cash flows are very strong and the immediate outlook is fairly positive."

At 1450 shares in the group were up just over half a percent at 685p.

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