Informa to cut £20m costs as revenue falls

The publisher of Lloyd's List said its core publishing business, which accounts for more than 60% of the group's operating profits, "continues to grow, demonstrating the resilience of our niche products and intellectual property".

But, it added, its revenue will be hit across its events and training division.

In a trading announcement to the City, Informa said: "Across our events and training division we have pro-actively continued to reduce volume to protect profitability in the face of weak demand.  As a consequence, in the first six months of the year, organic revenue will be considerably lower than in the same period last year."

The publisher, which last year rejected a private equity buyout, said its pro-active approach to cutting costs, which will cost approximately £10m this year, meant full year-on-year adjusted operating profit margins could be maintained.

The group, which will announce its half year results on July 28, added: "We remain confident about the group's future prospects and believe the market positions of our leading brands and events leave us well-positioned to grow significantly when world economies start to