Informa trims £1bn profit target as events firm faces FX hit

Taylor & Francis owner Informa has trimmed its annual profit forecast in response to adverse currency fluctuations. During the period, Informa reported a 10.7 per cent bump in underlying sales on the back of growth across all major regions, especially India, the Middle East and Africa. New outlook: Events organiser Informa expects to achieve over £975million in adjusted operating profits this year, having previously targeted more than £1billion The company is targeting Saudi Arabia, where it operates the joint venture partnership Tahaluf and plans to run a Money 20/20 event next January. The acquisition also helped Informa gain control of the Cannes Lions Festival, one of the world's largest advertising and marketing industry gatherings. The firm also revealed that 'major event' revenues in its Informa Markets segment, which organises the Monaco Yacht Show and World of Concrete, were up 5 per cent year-on-year in the first quarter.