StockMarketWire.com - Events and information group Ascential said Monday first-half revenue grew 14% amid strong growth in digital eCommerce subscription products, though its profits fell.

For the six months to 30 June, reported revenue rose 14% to £188.9m, operating profit fell 10.9% to £28.7m, and adjusted earnings (EBITDA) rose 2% to £60.8m.

The decline in profit came as the company recorded £4.5m of exceptional costs for sale of its Exhibitions business and separation costs. The company said it expected these costs for the year to total approximately £10m.

Following the sale of its Exhibitions business, Ascential generated 48% of its revenue from customers based in the Americas, and 22% of revenues from customers based in the UK.

The company reported that its margin fell to 32.0% to 36.8% following the consolidation of Clavis, the launch of Money20/20 in Asia and China, and the Cannes Lions re-set.

The interim dividend was raised 6% to 1.9p per share from 1.8p the same period a year ago.

'The group is trading in line with its expectations for the full year and the board remains confident in our overall 2018 performance and our prospects for continued success through the execution of our strategy,' said Duncan Painter, Chief Executive Officer.

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