LONDON (Brand Republic) – Euromoney Publications, the financial publisher, has announced plans to acquire financial and business publications to sit alongside its new-media offerings, as it reported flat full-year results with pre-tax profits of £22.6m.
The publisher, which is 71%-owned by Daily Mail & General Trust, attributed the flat profits to higher investment in new media, which increased this year to £8.2m from £3.7m during 1999.
Most of this was invested in Internet Securities, the emerging-markets online information service.
Turnover rose 14% to £191.1m. This was strengthened during the second half by a strong US dollar –- one-third of Euromoney’s business is US-based. The company also attributed the gains to the performance of its new businesses.
Euromoney said it is considering shopping for new acquisitions in Asia, where it believes economic recovery will continue. It will be seeking to buy publishers of B2B, cross-border and emerging-markets titles.