StockMarketWire.com - Information services provider Euromoney Institutional Investor reported a rise in third quarter revenue, led by growth in its subscription business.

For the three months ended 30 June 2021, revenue was up 14% to £78.9 million, with both subscriptions and events rising 7% and 108% respectively.

Events revenue rose to £12.6 million from £6.4 million, 'reflecting a higher number of virtual events and seven blended events during the period in the US, Asia and Middle East,' the company said.

For the three months ended 30 June 2021, revenue fell 8% to £234.4 million as performance was weighed down by the covid-19 impact on physical events.

Looking ahead to full-year 2021, the company said it remained 'confident' that the group will deliver a result in line with the board's expectations.

'For FY 2021 we expect continued good growth in subscriptions for pricing and DMI,' the company said.

'In asset management the turnaround of BCA Research and NDR continues to progress ahead of plan. Virtual events continue to perform well, however ongoing travel restrictions mean that we are slightly more cautious on physical events in the short term, with September continuing to be a key event month,' it added.

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