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No downturn for Informa
01.01.70 | Philip Jones
Taylor & Francis' parent Informa is on track to deliver another year in line with expectations after "significant achievement in 2007". Speaking at the company's a.g.m. chairman, Derek Mapp, said: "We achieved 9% pro forma revenue growth, 19% pro forma adjusted operating profit growth and a 23% adjusted operating profit margin [in 2007]. The current year has also started well, we are trading in line with our expectations."
He added that its publishing businesses were benefiting from strong renewal rates, including over 95% in the Academic & Scientific division. In the Professional and Commercial businesses it was benefiting from higher yields through the increased utility of digital delivery.
"Our well balanced portfolio, with a significant and resilient subscription based business at its heart and our broad geographic reach provides considerable protection from any single weaker economy or vertical market," Mapp stated. "Equally this portfolio enables us to take advantage of growth opportunities quickly in strong markets. We therefore remain confident about the group's prospects for the full year."