Informa boosts share buyback programme

Informa boosts buyback plan by £160m after strong trading lifts guidance.

Informa (LSE: INF) shares rose 2.6% on Wednesday morning after the company reported strong trading across all its businesses.

The positive performance fueled a £160 million increase in their share buyback program, reaching a total of £500 million.

Informa’s performance exceeded market expectations, with revenue, adjusted operating profit, and free cash flow all tracking towards the upper end of their previously announced guidance.

The company also upwardly revised its 2024 forecasts. Revenue is now expected to reach the high end of the £3.45 billion to £3.50 billion range, with adjusted operating profit forecast at the top of the £950 million to £970 million range.

Academic Markets’ underlying revenue growth is projected to surpass 5%, exceeding the prior guidance of 4%. B2B markets remain on track for high single-digit underlying revenue growth.

Further bolstering its position, Informa announced a non-exclusive agreement with Microsoft Corp. This collaboration includes access to advanced learning content and data, alongside exploring applications for artificial intelligence expertise. The agreement brings Informa an initial data access fee exceeding $10 million, followed by recurring payments across a three-year period from 2025 to 2027.

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