Informa Plc (INF.L, INFMF.PK), in an interim management statement, said Monday that its expectations for the full year 2012 remain unchanged. The provider of specialist information and services to academic, businesses and individuals noted that it expects both renewal and new subscriber cycles will take longer than they used to, citing the volatile trading conditions across the world. Informa shares dropped about 5 percent in the morning trade.
Providing an update on the four-month period ended April 30, Peter Rigby, chief executive of the company said, "We are meeting the strategic goals that we set for each of our three divisions and, despite the continued difficult macro economic backdrop, our full year expectations remain unchanged."
The company noted that its Academic Information division has made a good start to the year and an organic revenue growth of 2.5 percent is in line with its expectations.
In Professional and Commercial Information division, the company is moving away from some print advertising revenue to focus on digital advertising contracts. This is part of its strategy to become a digital only information provider by the end of 2013. Organic revenue declined by 4.1 percent, as the company faced challenges in pharmaceuticals and financial services sectors, particularly across Europe. But it still expects the division to grow revenue organically in 2012.
Informa said in Events and Training, overall organic revenue grew 3.6 percent in Events. Corporate training has made a slow start, particularly in the U.S., with a current revenue decline of 6.8 percent.
INF.L is currently trading at 364.3 pence, down 19.6 pence or 5.11 percent, on a volume of 1.87 million shares, against a three-month average volume of 1.34 million shares on the LSE.
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