Publishing and events group Informa is reaping the benefits of the mighty US dollar, which has provided a bright spot in a year or stumbling pre-tax profits.
In its 2016 results today, the UK-based events and publishing company said pre-tax profits sank by 19 per cent from the previous year to £178.3m, though some of its preferred adjusted measures were brighter.
It added that its £1.2bn acquisition of US rival Penton is “on track” and cited international expansion as a key part of its plans for the year ahead.
This is “producing strong results”, it said, both operationally and through the strength of the dollar. The US now accounts for over half of revenues, while dollar based revenues now make up over 65 per cent of the total – a boon at a time when sterling has been struggling.