Informa (LSE: INF) reported a stellar year, with profits more than doubling in 2023. This strong showing fueled the events and publishing leader to significantly raise its 2024 outlook, sending shares up at the open.
Pre-tax profit surged to £492.1 million, over double 2022’s figure. Adjusted operating profit mirrored this growth, soaring 72%. Informa rewarded shareholders with a near-doubling of their annual dividend to 18.0 pence per share.
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Looking ahead, Informa is confident, targeting high single-digit revenue growth, double-digit growth in adjusted operating profit, and a further margin increase. They anticipate revenue of £3.45 billion to £3.50 billion and adjusted operating profit of £950 million to £970 million.
CEO Stephen Carter emphasized continued momentum, “Informa’s results confirm further outperformance and continuing growth in 2024.” He also highlighted their strategic expansion plans.
Investors responded positively, with shares rising 1% at the open, adding to the stock’s 19% gain over the past year.
