Euromoney reports Q1 revenue growth, strong performance in event businesses
Source - SMW
Euromoney Institutional Investor reported revenues rose by 6% to £100.8m for the period from October 1 to December 31, 2017.
Underlying revenues increased by 3% driven by strong performance from the event businesses and a gradual improvement in the subscriptions growth rate. Year-on-year underlying revenue growth subscriptions and content rates grew to £65.6m, up 5% from £62.4 a year ago.
The company said the growth rate for pricing improved to 10%, against an exit rate of 8%, and is now outpacing the MiFID II-related drag from asset management subscriptions, which have continued to decline by 6%.
First quarter underlying event revenues (sponsorship and delegates combined) increased by 9%. The outlook for events in the second quarter, particularly Mining Indaba, the Group's largest event, was said to be positive.
At 9:22am: (LON:ERM) Euromoney Institutional Investor PLC share price was -20p at 1160p