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Interim Results

Ascential adjusted earnings rise

24 July 2017 09:40

Ascential saw good organic growth in the first half with adjusted EBITDA from continuing operations increasing to £81.4m from £63.2m last time.

The group said results in line with its expectations with revenue from continuing operations rising to £222.0m from £176.2m).

Reported growth of 26% (or 7.2% on a constant currency organic basis).

Chief executive Duncan Painter said: "We have delivered successful first half results in line with our expectations.

"We grew both revenues and profits driven by the focus on our primary brands and on customer retention.

"The launch of new products such as WGSN Insight and the growth of our live, content-rich event extensions, Money20/20 Europe and Bett Middle East, contributed well to our growth.

"The business continues to generate significant cash flows to fund investment, dividends and acquisitions and the integration of MediaLink and One Click Retail are progressing according to plan, enhancing our offering and opening up new opportunities for growth.

"Furthermore the strategic actions we have taken in the last 12 months enable us to optimise the focus on our primary brands and further accelerate our product and international revenue diversification.

"With our Information Services division already contributing well to our organic growth, the benefit of enhanced growth contributions coming from recently acquired brands and the investments we continue to make to enhance our products and capabilities we remain confident that we will continue to deliver leading growth rates.

"We enter the second half of 2017 with positive momentum. With our current level of forward bookings and the increasing geographic diversification of our revenue streams, we are confident that we will achieve our full year expectations."

At 9:40am: (LON:ASCL) Ascential Plc share price was +12p at 348.4p

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