Informa is making a pre close period statement today ahead of its financial year ending 31 December 2001.

Since our trading update of 1 November 2001 we have seen some improvement in delegate attendances as confidence in air travel returns. As we indicated in our statement on 1 November, the impact of the decline in delegate numbers is being mitigated by continuing strong sponsorship and exhibition sales and by tight control over costs.

Subscription income, which accounted for about 25% of Group revenue in 2000, has held firm.

Advertising, which accounted for only some 11% of the Group turnover in 2000, has remained depressed throughout November and December. This has mainly affected the Maritime, Trade and Transport, Finance and Insurance markets. The advertising in our Life Sciences division, which accounts for around 25% of our total advertising, has remained buoyant.

The group has reduced its cost base in response to the decrease in trading activity at a cost of around £4.5m, leaving the business well positioned for an upturn.