In major news on UK stocks, Informa PLC (GB:INF) reported annual results for 2023 with revenue growth of over 30% and underlying adjusted operating profit growth of 59.1% spurring a solid dividend rise for shareholders. The company declared a final dividend of 12.2p per share, resulting in a total dividend of 18p for the full year. This marked a huge 84% growth compared to the dividend paid in 2022. The Informa share price is trading up by 1.4% at the time of writing.
Informa specializes in events, research, digital, and content services.
2023 Results Paint Bright Outlook
Informa increased its earnings forecast for 2024, backed by its performance in 2023 and the resurgence of live events across its markets. For 2024, the company is projecting revenues in the range of £3.45 billion to £3.50 billion, along with an adjusted operating profit of £950 million to £970 million.
The company highlighted a strong start to the year and has already generated over £500 million in revenue. Additionally, it has secured over £1 billion in subscriptions and other forward-booked revenues.
Further enhancing its shareholders’ returns, the company completed £550 million worth of buybacks in 2023. The total shareholder returns jumped to £700 million in 2023, up from £550 million.
Is Informa a Good Stock to Buy?
On TipRanks, INF stock has received a Strong Buy consensus rating based on seven Buy and two Hold recommendations. The Informa share price target is 916.25p, which implies an upside of 11.9% from the current price level.
