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Informa a media oddity worth buying

19.11.07

Shares in Informa, the business-publishing and exhibitions group, have slumped 21% in the past six months, but that looks like a mistake, reports the Times. "Informa is a media oddity worth snapping up."

Informa, a diverse, £2 billion business, has come a long way from its roots as a trade-magazine publisher best known for Lloyd's List. Informa's strategy has been to combine publishing, training and events businesses. Earlier this year, it paid £502m to snap up information and research group Datamonitor. The deal will create the chance to sell research to Informa’s publishing and conference customers and drive up Datamonitor’s 20%-plus top-line growth.

Informa's real strength is its small exposure to cyclical advertising. According to a recent report by analysts at Bear Stearns, about 75% of its revenues and 90% of its earnings are renewable. Advertising is a measly 3% of revenues against 25%-40% for most rivals.

The Times

Financial stm Informa Taylor & Francis

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