Adjusted operating profit, excluding restructuring costs of £34.1m and intangible asset amortisation of £129.7m, increased by one per cent year on year to £309.5m.
The publisher of business information brands such as Lloyds List reported today that it ended 2009 with net debt of £872.6m, versus a total of £1,341.8m at the end of 2008.
Informa employs around 8,000 staff in 40 countries around the world and said today that it had cut staff by eight per cent in response to the economic downturn, saving £40m a year.
Profits for the professional and commercial information side of the business, which includes Lloyds List and Datamonitor, increased by 18 per cent year on year to £118.7m on revenue flat year on year at £368.3m
Chairman Derek Mapp said: "The outlook remains uncertain and we are managing the business with suitable caution. Nonetheless, Informa is in a stronger position than a year ago and has a suitably flexible business model that will allow it to manage uncertainty and capitalise on opportunities. The company is well placed to capture the economic upturn when it arrives."
Taken from Press Gazette: http://www.pressgazette.co.uk/story.asp?sectioncode=1&storycode=45119&c=1.