July 25 (Reuters) - Shares in British business media group Informa fall 6 percent after the company reports a fall in revenue for the first half of the year.
The company says revenue for the six months ending June 30 falls 2.4 percent to 619.6 million pounds ($962.02 million).
Barclays Capital cuts its price target to 445 pence from 465 pence on Informa’s stock citing lower revenue, despite saying the company’s profit was on track.
“First-half organic revenue growth of -1.2 percent is disappointing, with European events tough and management taking out weaker product at both professional and commercial information and events and training,” Barclays analyst Nick Dempsey says in a note
“This should improve the mix going forward, both in terms of revenue growth and margin - but is clearly a drag this year.”
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