- Advertisement -

Informa remains confident for 2021, shares rise

Informa shares rose on Wednesday as the group shared an update.

Profits at the events group plunged over 70% in 2020 and profits are expected to fall from last year’s £933m down to somewhere between £250 and £270m.

In 2019, the group posted a revenue of £2.9bn. This is expected to fall to £1.6bn in 2020.

The group remains positive for 2021 and the return of events. It has resumed some events in mainland China and Asia and is on track to hit its target of £600m in cost savings by the end of the year.

“(2021) is likely to be a year of return for physical events, rather than full rebound and recovery,” said the company in a statement.

- Advertisement -

Chief executive, Stephen A. Carter, commented: “The Informa group enters 2021 with an intention to use the progressive return from Covid-19 to deepen our use of digital and data services, thereby ensuring our products and brands remain relevant in a post-pandemic world. 

“The continued strength and growth of our subscription businesses and our prior decision to extend the physical Events Postponement Programme should serve us well as markets gradually open up and customer confidence recovers in the latter half of 2021. Equally important, will be our continued commitment to strengthening our digital and data capabilities.”

Informa shares are trading +4.05% at 559.80 (1100GMT).