Strong H1 results Informa has reported impressive H1 results today, with revenue at £2036m, up 7.8% organically, c.2% ahead of consensus, EBITA of £579m (reflecting more than 20% growth) was 3-4% ahead of consensus. By division, events saw a very strong 8.5% growth, with academic publishing up 11.9% helped by further new AI licensing deals in the period – TechTarget saw declines of 4.3% (modestly better than previously guided). Guidance raised Management flag the notable visibility in the business, with £3.1bn of revenue committed (c.80% of FY) at this point, and note that revenues committed for 2026 are running up 15% yoy currently. For the FY, management raise organic growth guidance to 6%, driven by raised guidance for events (now +8%) – and also raise FY EPS growth guidance to 10%+ despite the incremental headwind from the weaker dollar since the previous guidance was set. They lastly also announce an incremental £150m share buyback program. Higher multiple warranted More broadly, management continue to highlight their execution of a 4 year strategic plan to maximise organic growth from the platform – we continue to believe that the track record of strong, resilient growth despite macroeconomic volatility warrants a higher multiple than the current 14x CY26E PE, relative to RELX at 26x. Informa host a results presentation at 9am.