Business publisher and exhibitions firm Euromoney Institutional Investor said trading has been in line with expectations since its last update in late July.
As flagged in July, market conditions became noticeably tougher from June, particularly in Europe. As a result, revenues for the fourth quarter are expected to be broadly in line with the same period last year, with growth in subscriptions offset by weakness in advertising and delegate revenues.
Total revenues for the year to September 30, 2012 are expected to show a headline increase of around 9% on 2011. The underlying increase, excluding acquisitions, is expected to be 3%.
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Adjusted profit before tax is expected to be a record amount of at least £105m, up from £92.7m the year before.
More to follow ...
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