Euromoney Institutional Investor - Year-end trading update
Euromoney has released a year-end trading update ahead of its full-year results, scheduled for 21 November. This indicates figures slightly ahead of our forecasts, with group revenues of £401m (flat underlying) and a better group margin than we had anticipated, giving an adjusted PBT result of £104m. The strategic review of Asset Management is continuing, and the division will be reported as discontinued business. Net cash at the year end is expected to have been around £50m. We will adjust our FY20e and FY21e projections on publication of the full results.Euromoney Institutional Investors is an international business information group. Co.'s segments are: Asset management, which provides independent research; runs networks and conferences; and provides news and data that are critical for the industry; Pricing, data & market Intelligence, which provides prices, data, analysis and events that are critical for business processes and workflow across a number of industries, such as metals and mining industries, telecoms, insurance, airline and banking; Banking & finance, which provides market intelligence, news, training and conferences; and Commodity events, which consists of conferences in the metals, agriculture and energy sectors.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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