Informa says trading strong as bid talks continue

By Kate Holton

LONDON (Reuters) - Publishing and events group Informa (INF.L) said on Monday bid talks with its private equity suitors were continuing as it posted first-half profit and revenue slightly ahead of forecasts.

The publisher of the maritime publication Lloyd's List also said trading continued to be strong despite the tougher economic conditions and the outlook for the full year remained in line with the board's expectations.

Informa said on July 2 it was considering a 2.15 billion pound approach from Providence Equity LLP, The Carlyle Group and Hellman & Friedman, with the firms making an approach of 506 pence per share.

But Informa said on Monday there was no update and talks were still continuing, while Chief Executive Peter Rigby told Reuters he did not know whether a firm offer would be made.

"The ball's very much in their court," he said.

Informa, which organises the world's biggest mobile communications exhibition and conference, reported revenue up 18 percent at 627.6 million pounds and adjusted profit before tax for the six months to June up 10 percent at 104.7 million pounds.

Analysts had expected revenue of 595 million pounds and adjusted pretax profit of 101 million according to a Reuters poll of three brokers and four brokers respectively.

The group also raised its interim dividend by 9 percent, but the shares still slipped 0.1 percent to 417.75 pence in an overall lower market.