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22 Nov 2018 | 07:59

Euromoney profits bolstered by gains from sold businesses

Euromoney Institutional Investor reported Thursday a one-off gains from sold businesses during the year bolstered annual profits offsetting a subdued revenues.

The company also warned that its pricing, data & market intelligence segment would struggle maintain the strong growth seen this year.

For the 12 months to 30 September, pre-tax profits rose to £161.2m from £40.7m and revenues rose 1% to £390.3m.

The uptick in profits was supported by the sale of the global markets intelligence division in April 2018, the company said.

The Group sold several businesses including the global markets intelligence division generating an exceptional credit of £81.4m.

A stronger sterling compared to the US dollar and lower advertising and subscription revenue in its asset management segment kept a lid on revenue growth, the company said.

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