Euromoney pre-close trading statement

Since issuing its Interim Management Statement (IMS) on July 25, 2013, trading has continued in line with the board’s expectations. The recovery in US markets, and in particular in the profitability of US financial institutions, has continued, while European markets have remained weak and emerging markets have settled down after the uncertainty earlier in the summer.

Revenues for the fourth quarter are expected to show a headline increase of 9% on the same period last year, and an underlying increase, excluding acquisitions, of 5%. The improvement in advertising highlighted in the July IMS has continued, with advertising revenues returning to growth for the first time in two years. Underlying subscription revenues, excluding acquisitions, increased by 4%, helped by the reversal of timing differences from the third quarter.

Click For the full release click Euromoney