In the year to 30 June 2000, the Company made an operating profit of $5.6 million (GBP3.8 million) before goodwill amortisation on revenues of $45.0 million (GBP30.6 million). Profit before tax was $6.0 million (GBP4.1 million) including $1.2 million (GBP0.8 million) of non continuing net interest receivable relating to certain assets and liabilities that do not form part of this transaction. Net assets at 30 June 2000 (excluding the assets and liabilities not to be acquired by Informa) were $4.9 million (GBP3.3 million).
Peter Rigby, chairman of Informa Group plc, commented:
We welcome the MCM team to the Informa Group. The business is in one of our core markets, providing value added information and analysis to business customers on a subscription basis. We see the financial information business sector as one where there are exciting business opportunities and this acquisition helps increase our presence in this area. Last year we acquired another financial information business in the US, Informa Research Services. We are also pleased to be increasing our presence in the US where there remain significant business opportunities.
Kenneth B. Bohlin, chief executive officer of Informa Financial Information, said:
We are delighted to bring MCM into Informa Financial Information, where it will strengthen Informa’s position as a leading provider of essential information to the world’s financial market participants. We believe that MCM’s proven product offerings and established customer base will be well-positioned alongside our other existing assets, providing considerable growth opportunities for both.
