UK-based events organiser Informa has raised has full-year earnings following a strong recovery for the events sector and now expects its profits to return to pre-pandemic levels only by 2024 or 2025.
Informa has raised its guidance for annual operating profit to between US$576.44 million to US$594.08 million.
“B2B market demand is growing across many industries and most geographies, with the current exception of China, which will provide incremental growth as it reopens,” said Stephen A. Carter, Informa’s group chief executive.
The company stated that there had been strong demand for its Live Event brands in all major markets and geographies “as they have opened up post COVID-19”.
“The operating momentum across both our businesses, combined with the strength of our positions in North America, put us in a strong position for continued growth and acceleration in 2023, with incremental growth in China as the market reopens,” the company said.