Informa, owner of the Monaco, Ft Lauderdale, Yachts Miami Beach and Palm Beach international boat shows, saw its shares rise up to 7% yesterday after it reported better than expected first-half results for 2017.

Informa purchased a portfolio of US boat shows earlier this year through the US$133m acquisition of the Show Management/YPI arm of the Active Interest Media group. The global business events and media group also paid £1.2bn for Penton, the US exhibitions group.

These purchases helped the UK-listed Informa report a 41% increase in revenue to £915m in the first six months of 2017. The group’s underlying growth, discounting the Penton acquisition, was 3.7%.

This was some £50m above market expectations which had been set at £865.2m with 2.4% organic growth.

Informa’s pre-tax profit jumped to £149m compared to £99m in 2016, with the earnings per share being 24 pence as opposed to an anticipated 23.1 pence. This performance saw shares rise as high 725p but they fell back to 694p, a rise of 2.7%. This result gave Informa a group valuation of around £5.7bn.

Chief executive Stephen Carter commented: “The group has been progressively changing for quite some time now. Inevitably, we have seen a spot market reaction, but generally we are in growth and our performance is improving.”

To combat the drop-in media print revenues, Informa is increasingly developing its events portfolio.

Since Informa bought the US shows it has signed a 30-year lease extension with the Bahia Mar Ft Lauderdale Beach Hotel & Yachting Center, meaning that FLIBS will remain there at least until 2050. For the Palm Beach show Informa has signed a 10-year agreement with the Marine Industries Association of Palm Beach County (MIAPBC) and the city of Palm Beach to organise the show.