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Informa - Beats forecast

May 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in business publishing and events group Informa rallied sharply to 295p, a new 12-month high after the company beat broker estimates, leading to upgrades to current year forecasts. For the year to 31 December revenue increased 13% to Â£1,278m, while pretax profit rose 15% to Â£233m. Eps was up 10% to 40.3p. To help conserve cash Informa reduced the final dividend to 3.9p but free cashflow was strong, rising 50% to Â£205.7m. Net debt was Â£1,342m, while net-debt-to EBITDA was 3.8 times, which compares favourably to its borrowing covenant of 4.25 times. However, this covenant tightens to 3.5 times this year, which is close to most analyst forecasts. Although management believe they have c.10% of headroom and bank facilities r ...

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PZ Cussons

Brixton

Informa - â€œGrowth acceleration planâ€ triggers share spike (May 2015)

Informa - Eyes further deals (May 2014)

Informa - Disposal of corporate training boosts quality of earnings (October 2013)

Informa - Business publishing and events firm looks set for re-rating (April 2013)

Informa - Net debt falls again (September 2012)

Informa - Falling debt should lead to re-rating (April 2012)

Informa - High quality publishing and events company on low PE (December 2011)

Informa - Blue chip publisher and events organiser looks good value (November 2011)

Informa (October 2010)

Informa (June 2010)

Informa - Gains now exceed 150% (April 2010)

Informa - Aborts Springer aquisition (January 2010)

Informa - Smaller events closed to protect margins (September 2009)

Informa - Rights issue resolves funding concerns (June 2009)

Informa - Shares rally after positive update (February 2009)

Informa - Publisher and events organiser on give-away price to sales ratio of 0.69 (December 2008)

Informa - Proposed merger with Taylor & Francis (April 2004)

Informa - Acquires PJB for £120m (February 2004)

Informa - Leader in business publishing and conferences hunting for acquisitions (November 2003)

Informa - Shares recover after Iraq war ends (July 2003)

Informa (November 2002)

Informa - Prospective PE just 11.8 (August 2002)

Informa - 73% gain in 5 months (April 2002)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Informa - Beats forecast

May 2009

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