Euromoney up, Reed down

As Reed Elsevier reported difficult numbers to the
financial markets this week and axed its chief executive, Ian Smith, after just
eight months in the job, FTSE-250-listed publisher and conference organiser
Euromoney has seen its shares rocket by 50 per cent in just six
months.

City analysts, it seems, are showing confidence in the
company’s focus on financial markets conferences and events. With adjusted
pre-tax profits down just six per cent on last year, and banks coming back into
the black, share tipsters are advising ‘Buy’ on Euromoney shares despite the
sustained share price rally.

Euromoney had imposed pay freezes and redundancies, but
seems to be seeing the benefit. Subscriptions are down, but analysts say there
is hope for renewed advertising, led by the emergence of new banks and healthier
Asian markets.

Reed Elsevier subsidiary Reed Exhibitions, meanwhile, is
seeing a continuation of the trends from the first half of the year, with
overall revenue declines against a record year in 2008.

“The number of both exhibitors and paying delegates
and the average space taken by exhibitors has reduced,” the company said in a
statement.

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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