StockMarketWire.com - Informa reported Wednesday first-half adjusted pretax profit rose 3.3% and revenue grew 4.6% but performance was held back amid 'one-off' acquisition cost.

For the six months to 30 June, adjusted pretax profit rose 3.3% to £264.7m from £256.2m on reported revenue of £957.1m, up 4.6%.

Academic revenue and global exhibition – which account for the bulk of revenue – saw mixed first-half performance as reported revenue fell 0.2% to £238.5m and rose 0.1% to £343.1m, respectively.

On an underlying basis, however, academic and Global exhibitions revenue rose 3.5% and 7.3%, respectively.

Acquisition and integration costs grew to £52.2m from £12.1m following the acquisition of UBM increased

The company said it would launch its one-year 'Accelerated Integration Plan' which would combine Informa with the recently acquired UBM.

'Our focus for the second half is clear: to maintain consistent operating performance, as we implement our Accelerated Integration Plan to combine UBM and Informa and create a truly international B2B Information Services Group,' said Stephen A. Carter, Group Chief Executive.


At 9:15am: [LON:INF] Informa PLC share price was -29.2p at 820.8p



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