Euromoney events rebound, as company posts 37% profits rise

International information
group Euromoney says its conferences are experiencing a rebound, with
record attendances at some
of the company’s specialist events, due to “pent-up demand”. The company this week reported a 37 per cent rise in annual profits,
with advertising and sponsorship revenue rebounding strongly in the second half
of the year.

Finance
director Colin Jones said the upswing had come
after Euromoney bookings for its conferences and seminars had fallen back during
the recession.

Euromoney’s events
division was benefitting, in particular, from a rebound in
financial services, Jones reported.

The group,
majority owned by Daily
Mail & General Trust, said event sponsorship and
revenues from paying delegates had increased four per cent to £78.8m from the
previous year.

Pre-tax profits came in
at £71.4m on revenue of £330m for the year to 30 September. This
compares with a pre-tax loss
of £17.4m in 2009. The results exceeded City analysts’
forecasts.

“The main driver was
subscription revenues, which came back very swiftly in the second half, because
of a recovery in the markets where we operate,” said
Jones.

“Our products are specialist
and very valuable. Although they weren’t immune to the downturn, demand returned
very quickly,” he added.

Euromoney raised its
dividend from 14p in 2009 to 18p this year.

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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