Euromoney profits soar, dividend up

13 April 2012

TWO major acquisitions and a pick-up in conference activity saw Euromoney's profits rise from £7.4m to £20.5m last year, although publishing was hit by low advertising revenues and the dollar's weakness.

Turnover rose 10% to £175m. Euromoney is 71% owned by Daily Mail and General Trust, owner of This Is Money, the Daily Mail, the Mail on Sunday and the London Evening Standard.

The group said: 'The new financial year has begun well. That cannot be relied upon as a guide to the first half, but in spite of the weak dollar, the directors are confident about the group's ability to deliver further growth.'

Euromoney said its last financial year had ended strongly, with September accounting for a third of the full-year profit.

'Institutional Investor was the only major title to increase advertising revenues over the year although Euromoney, with its best September issue for five years, saw a marked improvement in the second half,' the company said.

Both titles were helped by strong performances from emerging markets, particularly Eastern Europe and Asia.

'In contrast, the recovery in advertising from the key London and New York financial centres has been slow.'

The final dividend was set at 10p, making the total dividend 1.7% higher at 15p.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in