|No. of shares out||1,252m|
|Trading volume (90 day avg.)||2.8m|
|Cash per share||44.95p|
Informa interims make Shore Capital cautious
Events group Informa (INF) has suffered a 73% slump in profits in the first half as Covid-19 shut down economies and there is still ongoing uncertainty for the company, says Shore Capital.
Analyst Roddy Davidson retained his ‘hold’ recommendation on the shares, which fell 3.4% to 367.6p yesterday.
Although figures were down across the board, with revenue falling 42% over the period, Davidson said the results were ‘a reminder that Informa moved quickly and decisively to deal with the impact of Covid-19’ by conserving capital, reducing costs, and rescheduling events.
‘The timing and scale of a resumption of activity across the exhibitions markets remains difficult to predict with any degree of certainty,’ he said.
‘On this basis, and although we rate the group as a high-quality, well-managed business with good medium-term growth prospects, we remain cautious on the outlook.’