Informa delivers 10% growth over five months

Informa has struck double digital growth in the first five months of 2024, reporting a 10% rise in revenue as it focuses on niche markets, unique content and global expansion.

The company also maintained its full-year adjusted operating profit to reach the higher end of the £950 million (m) to £970m range. Read more about it below.

Here are the top headlines for your weekly event news updates:

• Informa delivers 10%+ growth in Jan-May 2024
• IMEX Group appoints Gary Coombs as COO
• AEV adds Sarah Marshall and Lori Hoinkes as new board members

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Informa delivers 10%+ growth in Jan-May 2024

Informa Plc has posted more than 10% revenue rise in the first five months of 2024, affirming its strong growth and full-year guidance.

Our AGM is today and we've published a trading update for the first five months of 2024. Read the full update here: https://t.co/RfvWMZFTD3 pic.twitter.com/e5ZIlScumv

— Informa Plc (@InformaPLC) June 21, 2024

Stephen Carter, Group Chief Executive at Informa Plc, said: “The Informa Group has changed gears and we are now delivering 10%+ growth.

“Our strategy to focus on specialist markets, unique content and internationalisation is delivering double-digit underlying revenue growth, margin expansion and increasing profits and cash flows.”

Here are the highlights from the company’s latest trading update:

• Strong performance: 10.1% revenue growth year-to-date at £1.4 billion (bn), strong bookings for 2024 and 2025, credit rating upgrades, £720m+ free cash flow expected in 2024.
• Profit forecast: Confirms full-year profit forecast – aiming the top of the £950m to £970m range.
• Growth across markets: B2B Markets and Academic Markets seeing strong growth, driven by digital investments and content focus.
• AI advancement: Continued AI integration delivering product benefits and operational efficiencies
• TechTarget creation: On track to merge Informa Tech’s digital businesses with NASDAQ-listed TechTarget by Q4 2024, forming a leading B2B Digital Services entity.
• Increased shareholder returns: Strong business momentum and cash flow supporting an expanded 2024 share buyback program, increased by 50% to £0.5bn, with over £0.3bn already repurchased.
• Partnerships and expansion: Strategic partnerships fueling growth in key regions (Saudi Arabia, China) and markets (Retail Banking Intelligence, Beauty)
• Guidance reaffirmed: On track to meet or exceed 2024 guidance range.

IMEX Group appoints Gary Coombs as COO

The IMEX Group has named its incumbent Chief Information Officer (CIO) Gary Coombs the new COO.

In his new role, he will collaborate with various teams to ensure the implementation of IMEX’s initiatives and the vision of fostering a prosperous global business events industry committed to positive change.

Additionally, he will align the IMEX group’s efforts with its newly established values: ‘Put People First,’ ‘Achieve Together,’ and ‘Lead the Way.’

Gary said: “Achieve together’ is one of our company values and we simply wouldn’t be able to deliver our shows without the best in class structures, culture and processes in place to support the hard work our team puts in every day.

“I’m excited to help our talented and passionate team continue to drive forward the business and lead the way.”

Gary joined IMEX as CIO in 2021 and spearheaded initiatives to leverage technology for improved and more efficient community services.

AEV adds Sarah Marshall and Lori Hoinkes as new board members

The Association of Event Venues (AEV) has welcomed event industry veterans Sarah Marshall and Lori Hoinkes as its new board members.

We are delighted to welcome Sarah Marshall, venue director, @Farnborough_Int and Lori Hoinkes, chief executive @mcr_central as our newest board members. We are looking forward to working together.

Read the full release: https://t.co/qJgZRkuGrh#eventprofs #venues pic.twitter.com/EpNymdKJKk

— AEV (@AEVnews) June 17, 2024

Sarah recently joined Farnborough International Exhibitions & Conference Centre as venue director while Lori Hoinkes was appointed CEO at Manchester Central. Both will join the AEV board after the summer meeting at Central Hall Westminster on June 14.

AEV director Rachel Parker said: “We are delighted Sarah and Lori are joining the board.

“They bring a wealth of knowledge and experience with them and offer valuable customer insight.

“Both have come from the organiser community and will therefore bring another viewpoint to the table which will greatly benefit our members.”

Sarah said: “I am passionate about the inherent value and impact of live events and believe in the transformative power of shared experiences to drive meaningful connections that inspire, educate and empower attendees.

“The AEV brings together the best in their field and I look forward to being part of that leadership team.”

Lori added: “I am very much looking forward to working with colleagues from other venues to collectively showcase our capabilities in hosting world-class events and, importantly, the value that drives for our communities at a regional and national level.

“The AEV provides a fantastic forum for us to do that collaboratively and I’m excited to join such an esteemed group of industry leaders.”

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