Record first half results for Euromoney
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Thursday 15 May 2008
Euromoney Institutional Investor has posted its financial results for the first half of the current financial year, with revenues hitting a new high.
The international publishing, events and electronic information group achieved an adjusted operating profit for the six months to March 31 of £36.1m, a 6% increase on the same period last year.
“These results reflect the continued success of the group's strategy to drive profit growth and build a more robust subscription-driven business,” explained the firm.
Revenues increased by 7% year-on-year to a record £154.8m, while advertising revenues rose by 4% to £28.6m. Adjusted profit before tax surged by 23% to £30.5m.
“It was an excellent first half in very volatile markets,” commented Euromoney chairman Padraic Fallon. “The strategy of investing in subscription products served us well, and we are well placed to meet whatever challenges lie ahead.”
Read the full interim financial report online.