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Informa abandons £1bn profit target as events firm faces FX hit

Informa, the owner of Taylor & Francis, has revised its annual profit forecast due to adverse currency fluctuations. The London-based firm now expects adjusted operating profits of over £975m this year, down from its previous target of over £1bn. However, Informa still anticipates its turnover to exceed £3.5bn, citing a strong performance in the first ten months of 2024. The company runs major events such as Arab Health, the Dubai Airshow, and Cityscape Global. Informa recently acquired Ascential for £1.2bn to expand its fintech business in the Middle East and Africa.

Original article source: https://www.dailymail.co.uk/money/markets/article-14101069/Informa-abandons-profit-target-events-firm-faces-FX-hit.html
Source Id: 2024-11-550612302

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