Euromoney Institutional Investor PLC reported revenue results for the first quarter of fiscal 2015. For the quarter, total revenues were £94.7 million against £98.4 million a year ago. Net debt at December 31, 2014 was £21.0 million, a decrease of £16.6 million since the year-end.

As previously indicated in the fiscal 2014 results announcement, a number of factors are expected to reduce the group's adjusted operating margin in fiscal 2015. These include additional property costs of £2 million following the London office relocation, and a similar amount for the full year impact of the costs of the group's Delphi content platform and investment in other new products. At the adjusted profit before tax level, the full year cost impact of CAP 2014, the group's long-term incentive scheme, will reduce fiscal 2015 profits by approximately £4 million compared to fiscal 2014, while the net impact of the Dealogic transaction, after equity accounting for the group's share of profits in New Dealogic, will lead to earnings dilution of approximately 2% in this financial year.