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Euromoney: H1 Performance Encouraging; Sees FY Results In Line With Board's Expectations

Euromoney Institutional Investor PLC (ERM.L) said the Group delivered further strong revenue growth during the second quarter driven by continued momentum in subscriptions and the continuing recovery in events. Looking forward, the Group said it remains well placed to deliver full year results in line with the Board's expectations, before taking account of the benefits from property savings.

Euromoney noted that it has limited exposure to customers in Russia and Ukraine. The Group confirmed that it has suspended business with individuals who are incorporated or resident in Russia or Belarus.

Euromoney also said it expects People Intelligence to continue delivering double-digit revenue growth and are targeting approximately $100 million of revenue in fiscal 2025. People Intelligence is part of Euromoney's FPS division, accounting for over 40% of its subscription revenue in fiscal 2021. Euromoney targets People Intelligence to achieve improvement in operating margin to mid-30s percent by fiscal 2025, approximately double the adjusted operating margin achieved in fiscal 2021.

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