StockMarketWire.com - Information-services provider Euromoney Institutional Investor reported a rise in annual profit as cost cuts bolstered performance.

For the year ended 30 September 2021, pre-tax profit raised 11% to £26.6 million year-on-year as revenue increased to £336.1 million from £335.3 million.

'The group benefited during the period from the restructuring and cost-reduction programme announced in September 2020 which mainly focused on our events businesses and delivered £15m of annualised savings, before investment in other areas,' the company said.

The final dividend declared was 12.5 pence per share, resulting in a total dividend for the year of 18.2 pence, up 60%

Looking ahead, the company said it had entered FY 2022 with 'strong momentum and confidence in the opportunity for sustainable growth as we continue to execute our 3.0 strategy.'

'In FY 2022, as travel restrictions ease, we are planning more and larger physical events.'

'As a result we expect further recovery in events revenue in FY 2022.'


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