- Euromoney Institutional Investor PLC ("Euromoney"), the international online information and events group, has produced a trading update which says challenging market conditions have shown no signs of improvement and trading for the fourth quarter has continued in line with the Board's expectations.

Total revenues for the year to September 30, 2015 are expected to show a 1% decrease on last year, and an underlying decrease of 4%. The Group expects to announce an adjusted profit before tax* of no less than £107m for the year to September 30, 2015 (2014: £116.2m).

The pressures on the investment banking sector, which account for roughly half the group's revenues, have continued to offset the growth being achieved by the group's businesses serving the asset management sector, while in the second half the impact of weak commodity markets, and the fall in energy prices in particular, has adversely affected the group's activities in this sector.

As a result, headline revenues for the fourth quarter are expected to show a 5% decrease on the same period last year, and an underlying decrease, at constant currency and excluding acquisitions and disposals, of 7%.

Weaker energy prices, particularly for coal and oil, started to have an impact on revenues from smaller events and training in the third quarter. This trend has continued into the fourth quarter, exacerbated by the volatility in commodity markets in general during this period.

As a result, underlying delegate revenues are expected to fall by 17% in the quarter, while sponsorship revenues have proved more robust and are expected to decline by only 2%.

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