Summary:

Business publisher Euromoney says it will plough more money in to technology and digital products this year, after finding its digital busin…

Euromoney

Business publisher Euromoney says it will plough more money in to technology and digital products this year, after finding its digital business growing by 15 to 20 percent over the last year.

Half-year subscription revenue jumped 13 percent to £82 ($132.47) million.

The group says its strategy is “increasing the proportion of revenues derived from subscription products; accelerating the online migration of the group’s print products as well as developing new electronic information services”.

In the first half of this year, the group doubled its investment on technology and new products to £4 ($6.46) million.

Although Euromoney’s advertising income has grown by 15 percent in the last year, chairman Padraic Fallon notes “signs of a softening in advertising markets in recent weeks, largely in response to increasing uncertainty over the prospects for global economic growth as well as continued nervousness over financial markets and the Eurozone sovereign debt problems in particular”.

Fallon also expects those subscription rates to fall later in the year.

Total half-year revenue is up 13 percent to £167.6 ($270.75) million.

Release.

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