Informa posts 11% growth in revenues for first 10 months

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London, 19th November: Earlier this week, Informa PLC, the London-listed B2B media group, released its latest trading update with an 11% growth of underlying revenue in the first 10 months of 2024.

Informa’s B2B Markets business also recorded an 11% increase year-on-year. In terms of business, Informa Markets’ revenues rose 13.5%, Informa Connect was up 4.9% and Informa Tech 11%.

Management also updated its 2024 full year forecast to revenues of over £3.5 billion (US$4.5 billion), and adjusted operating profit of over £975 million (US$1.26 billion).

According to the company, it will focus on maximising its platform by aligning its businesses more closely in Operations, Brands, Technology, Marketing and Data Analysis. Therefore, the three Live B2B Events businesses (Informa Markets, Informa Connect, Informa Festivals) will be operated as one, alongside Informa TechTarget and the Academic Markets division.

Stephen A. Carter, Group Chief Executive, said, “Informa continues to deliver a strong performance in 2024, with forward bookings providing momentum into 2025. This year sees us complete our four-year GAP2 programme, where our performance has demonstrated the structural growth in our chosen markets, our geographic strength in the US and IMEA in particular, and the power of our market-leading specialist B2B Brands and proprietary first party data.”

Alibaba’s profit jumps 63%

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Hangzhou, 15th November: Last week, the Alibaba Group, one of China’s leading e-commerce companies, released its financial results for the quarter ended 30th September 2024. The company recorded total revenues of US$34 billion, up 5% year-on-year. Alibaba posted an increase of 63% in its net profit, reaching US$6.2 billion.

Revenues from Alibaba’s B2B business in China under its Taobao and Tmall Group, primarily generated through 1688.com, were US$853 million, representing an increase of 18% year-on-year. Revenues from its international B2B business under its Alibaba International Digital Commerce Group, primarily operating through Alibaba.com, increased by 9%, amounting to US$863 million.

The group also released its financial results for the six months ended 30th September, generating revenues of US$68 billion, an increase of 5% year-on-year. Net profit in the six-month period grew by 13%, amounting at US$9.6 billion. Diluted earnings per share in the first half of the financial year were RMB 28 (US$3.99).

In terms of B2B business, revenues from Alibaba’s China B2B business rose 17% year-on-year, reaching US$1.70 billion. While revenues from its international B2B business were US$1.66 billion, up 11% from the same period in the previous year.

Eddie Wu, Chief Executive Officer of Alibaba Group, was quoted, “This quarter we continued to invest in the user experience and strengthen product offerings to serve our consumers. We entered into long-term collaborations with industry peers to broaden payment and logistics services on Taobao and Tmall platforms, which we expect will accelerate our overall growth. Growth in our Cloud business accelerated from prior quarters, with revenues from public cloud products growing in double digits and AI-related product revenue delivering triple-digit growth. We are more confident in our core businesses than ever and will continue to invest in supporting long-term growth. Our other businesses continued to improve their operating efficiency, with most of them continuing to increase their profitability or reduce losses.”

Separately, Alibaba has established Alibaba E-commerce Business Group, integrating of Taobao and Tmall Group, Alibaba International Digital Commerce Group, the 1688 Marketplace, Idle Fish and others, covering domestics and international supply chains. The company has also appointed Mr. Fan Jiang as Chief Executive Officer of the new business group.

300 MICE events held in Macau in Q3

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Macau, 15th November: Macau’s Statistics and Census Service (DSEC) has recently announced its MICE statistics for the quarter ended 30th September 2023. Macau held a total of 300 events in the quarter which is 43 events more than the third quarter in 2023. However, the total number of participants dropped slightly by 4.8% year-on-year, with a total of 520,900 participants and attendees.

Of the total 300 events, 276 were meetings and conferences, 44 events more than the same quarter of last year. Total number of participants at meetings and conferences increased by 20%, reaching 59,300 participants. A total of 14 exhibitions were held in the quarter, which was six exhibitions less than the previous year. The number of attendees decreased by 7.5%, amounting to 455,800 attendees. The total gross area occupied by these exhibitions was 96,200 m2.

DSEC also released its MICE statistics for the first nine months of 2024.  A total of 1,011 MICE events were held in Macau during the nine-month period. That is 232 events more than the same period in 2023. However, the total number of participants and attendees was down by 18% year-on-year, with just more than 1 million participants and attendees.

Quick takes

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Messe Düsseldorf China launches Organic Festa Asia in 2025

Messe Düsseldorf China will launch the inaugural Organic Festa Asia, running from 3rd to 5th September 2025, at the Shanghai New International Expo Centre (SNIEC). The new event will cover the entire organic value chain, aiming to reflect the scale of the organic industry in Asia and China. It will also deliver high-quality organic products to better meet consumer needs.

CIIE deals rise to US$80 billion

The 7th China International Import Expo (CIIE) concluded on 10th November in Shanghai, attracting more than 430,000 professional visitors. A total of 3,496 companies from 129 countries and regions showcased their latest products, technologies and visions for the future. According to media release, tentative deals increased by 2% over the previous edition, reaching US$80 billion.

Diversified acquires Midwest Solar Expo

Diversified Communications announced the acquisition of Midwest Solar Expo (MWSE), to expand its Clean Energy portfolio. After the acquisition, MWSE will join Diversified Communications’ Intersolar & Energy Storage North America (IESNA), a U.S.-based conferences and trade shows focused on solar, energy storage, EV charging infrastructure and manufacturing. No financial details of the transaction have been disclosed.

UFI names first “UFI Medal of Honour” recipients

UFI, The Global Association of the Exhibition Industry, launched a new scheme, “UFI Medal of Honour”, awarding individuals for their unique services to the global exhibition industry at large and UFI community in particular. The first “UFI Medals of Honour”, UFI leadership selected: Sandy Angus (UFI President 2001 – 2003), Mary Larkin (UFI President 2020 – 2021), and Kai Hattendorf(UFI CEO since 2015).