- Informa
- 08 May 2024 07:31:08
Source: Sharecast
The companysaid it has raised its 2024 share repurchase programme by a further £160m to £500m.
Informa said that underlying revenue growth across both B2B Markets (Informa Markets, Informa Connect and Informa Tech) and Academic Markets has been in line or ahead of expectations since the start of the year.
As a result, it expects revenues to hit the upper end of the £3.45bn-3.50bn guidance for the full year, up from £3.19bn in 2023.
Adjusted operating profit is forecast to come in to the top end of £950m-970mm, up from £854m previously, while the adjusted free cash flow target has been moved to "£720m++" from "£720m+", compared with the £632m generated last year.
Informa announced in January that it would be combining its Informa Tech business with US marketing firm TechTarget, taking a 57% stake in a new entity named New TechTarget that will listed on the Nasdaq. The company said the combination was on track for the fourth quarter of this year.
"All Informa's businesses are performing ahead or in line with 2024 targets, delivering growth and momentum which sees us delivering at the upper end of guidance range," said chief executive Stephen Carter.