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Euromoney PLC (LON: ERM) H1 profits fall 59% due to absence of exceptional items

  • Euromoney Institutional Investor PLC (LON: ERM) today reported that its H1 2019 pretax profit fell 59% as compared to last year.
  • The business and financial information company attributed the massive difference to last year’s gain from the sale of its stake in Dealogic.

The business-information provider’s profit for the half year ended March 31 was £49.3 million ($63.5 million), a 59% drop as compared to last year’s £121.1 million profit.

Euromoney said that excluding exceptional items, its adjusted pretax profit expanded 13% on an underlying basis to reach £46.1 million as compared to last year’s £45.6 million.

The company reaffirmed its full-year guidance.