Key Highlights

  • Informa Plc (LSE:INF) reported underlying Revenue growth of 6.5% for the nine months to 30 September 2026.
  • B2B Live Events grew 8%, Academic Markets 4%, while Informa TechTarget declined 1.6%.
  • Full-year underlying revenue growth is now tracking toward around 3%, down from around 6%, assuming no further contribution from Saudi Arabia.
  • The group maintained guidance for double-digit growth in adjusted earnings per share, and the Clarion Acquisition is due to close in December.

Why Informa Is in Focus Today

Informa Plc (LSE:INF) is attracting attention on the FTSE 100 as investors assess the outlook for its Middle East events business. The group's nine-month trading update on 27 October showed solid Demand across most regions but highlighted significant disruption in Saudi Arabia linked to the regional conflict. On Wednesday, 4 November 2026, hopes of de-escalation rose after the US midterm elections, which handed Democrats control of Congress and were seen as increasing pressure for a diplomatic settlement with Iran. Oil fell below $100 a barrel, and the FTSE 100 rallied 1.8%.

For Informa, a calmer Middle East would make it easier to stage major events in the region, which has been an important growth market for its trade show business. The group runs some of the world's largest exhibitions in Saudi Arabia and the Gulf.

Nine-Month Trading Update

Informa reported underlying revenue growth of 6.5% in the nine months to 30 September, excluding non-recurring data contracts. B2B Live Events, its largest division, grew 8%, supported by strength in the Americas, Europe, ASEAN and parts of the India, Middle East and Africa region. Academic Markets, which includes Taylor & Francis, grew 4%. Informa TechTarget declined 1.6% as technology customers prioritised Investment in artificial intelligence over Marketing and sales support.

Saudi Disruption

Escalating disruption in Saudi Arabia forced further rescheduling of events. Cityscape Global in Riyadh has been moved to January 2027, while the 2026 Global Health Exhibition is going virtual, with the physical event moving to October 2027. Informa said its rescheduling programme has otherwise worked well in the region, with more than 50 brands trading this year and generating more than $530 million of revenue.

Assuming no further revenue from Saudi Arabia in 2026, the group now expects underlying revenue growth of around 3%, compared with previous guidance of around 6%. However, it maintained its forecast for double-digit growth in adjusted diluted Earnings Per Share from a 2025 base of 49p, excluding in-year dilution from shares issued for the Clarion acquisition. Informa reported revenue of £4.04 billion in 2025.

Clarion and Capital Allocation

Informa is buying Clarion Events, adding further scale to its live events portfolio, with completion expected in December 2026. The group has also been running a £250 million share buyback and issued a €500 million bond earlier in the year. Chief executive Stephen Carter has emphasised the depth and breadth of Informa's portfolio, which allows it to shift events between dates and locations when disruption occurs.

Market Context on 4 November

Events businesses are sensitive to corporate budgets, travel and geopolitical risk. The shift in US politics and the fall in oil prices could support corporate confidence and travel demand into 2027. Informa earlier signalled that it expects faster growth in 2027 as conflict-related disruptions ease and rescheduled events take place. Media and information stocks have also been affected by debates about AI, and Informa argues that face-to-face events and specialist academic content remain highly relevant in an AI-driven world.

Forward Bookings

One of the strengths of the events model is visibility. Exhibitors typically book and pay for space many months in advance, which gives Informa an early view of future revenue. The group has previously reported more than £1 billion of revenue booked or committed for the following year at this stage of the calendar, and investors will look for a similar update for 2027. Academic Markets also provides Recurring Revenue through subscriptions and open research publishing, while AI-related content licensing deals have created a new income stream in recent years. This mix of forward-booked events and subscription income helps explain why management felt able to keep earnings guidance unchanged despite cutting its revenue outlook.

Risks to Consider

Risks include further conflict-related disruption, weaker corporate spending, integration challenges with Clarion, slower growth at TechTarget and changes in academic publishing models, including open access and AI licensing. Currency movements also affect reported results.

What Investors Are Watching Next

Investors will watch geopolitical developments in the Middle East, the completion of the Clarion deal in December and the pacing of bookings for 2027 events. A further trading update and full-year results early in 2027 will show whether revenue growth rebounds as rescheduled events take place. Signs of improvement at TechTarget will also influence sentiment toward Informa Plc (LSE:INF).