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01 Feb 2019 | 07:48

Euromoney says trading remains in line with expectations despite lacklustre revenues

Information company Euromoney said trading in the final quarter of the year was in line with expectations even as revenue slipped.

Revenue for the three months to 31 December 2018 fell to £92.6m from £100.8m. Underlying revenue, which exclude disposals and discontinued operations, rose 1%.

Underlying subscription revenue was up 1%, where strong 9% growth in the pricing, data & market intelligence segment more than offset a 4% reduction in Asset Management, the company said. While advertising trends were consistent with 2018. Events revenue grew by 3% on an underlying basis, with an 'excellent performance in the telecoms events, Capacity Europe and Capacity Asia, and IMN in the Banking & Finance segment, the company added. The company also said that its strategy was progressing well, confirming that the restructuring in asset management segment was complete. 'There is increasing recognition of our pricing products, with the London Metal Exchange's announcement in January that it will launch three new cash-settled derivative contracts to be settled against Fastmarkets Metal Bulletin's aluminium, alumina and cobalt prices, ' Euromoney said.

Story provided by StockMarketWire.com
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