Events organiser Informa lifts annual earnings view as demand improves

(Reuters) -British events organiser Informa Plc raised its full-year earnings outlook on Monday, encouraged by a recovery in demand for physical events and its subscription services.

The events industry has been recovering from a pandemic-driven slump that forced cancellation of hundreds of shows and conferences amid lockdowns and travel restrictions.

The company now expects adjusted operating profit for the year to be about 490 million pounds to 505 million pounds ($576.44 million to $594.08 million), from 470 million pounds to 490 million pounds it forecast earlier.

The London-listed group in August said it expected its profits to return to pre-pandemic levels only by 2024 or 2025.

"The operating momentum across both our businesses, combined with the strength of our positions in North America, put us in a strong position for continued growth and acceleration in 2023, with incremental growth in China as the market reopens," the company said.

Informa also raised its annual revenue guidance to the range of 2.30 billion pounds to 2.35 billion pounds, from 2.15 billion pounds to 2.25 million pounds.

($1 = 0.8501 pounds)

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Rashmi Aich)