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Publishing grows for Informa

28.07.08 Catherine Neilan

Informa's academic and scientific business saw sales growth of 20% and profit growth of almost 30% in its half year to 30th June. The publishing growth at Taylor & Francis helped parent Informa record revenue growth of 18% on last year, with sales totaling £627.6m. Adjusted operating profit grew from £116m to £140m, an increase of 21%, but the group's actual profit was down 33% on last year, falling from £68.9m to £46.5m.

Chairman Derek Mapp said: "Our publishing and subscription businesses have achieved high renewal rates, consistent with previous years, and customers remain keen to acquire our content across a number of distribution channels." He added: "We have traded well in what has been a difficult macro economic environment, which demonstrates the high quality of our earnings, the resilience of our asset base and the lack of exposure to the UK market."

Sales at the publishing business rose to £181.5m, compared with £151.2m, with STM sales up 24% to £112m, and the humanities and social science arm up 14% to £69m. Operating profit across the two divisions was £48m, compared with £37.2m a year earlier.

Informa said that a takeover offer made by Providence Equity, The Carlyle Group and Hellman & Friedman in June this year was still under discussion. "Talks are continuing with the consortium, and a further update will be made in due course," the statement said.

Financial stm Informa Home academic Taylor and Francis Catherine Neilan

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