Euromoney profits will be hurt by terrorist attacks

LONDON - Euromoney Institutional Investor, publisher of Institutional Investor magazine, has warned that full-year pre-tax profits will be flat following the terrorist attacks in the US earlier this month.

"The group has had to cancel most of its conferences and training courses due to run in New York in September. September is usually Euromoney's busiest month," the company said in a statement.

Euromoney, which is 71% owned by newspaper publisher Daily Mail & General Trust, said it expects pre-tax profits for the year to September 30 will be between £22m and £23m, against pre-tax profits of £22.6m last time.

The company said profits will also be hurt by a fall in advertising revenues at some of its magazines.

Euromoney shares fell 17.9% this morning to 217.5p in London. The company's stock has lost 63% already this year.

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