* FY forecast not reiterated
* H1 operating profit up 5 percent, in line with consensus
* Exchange rates, publishing businesses help results
(Adds details on results, background)
LONDON, July 28 (Reuters) - British business publishing and events group Informa said its performance remained in line with market expectations after delivering first-half profit and revenue growth thanks to favourable exchange-rate movements.
However, it did not repeat guidance on Tuesday that it expected to be able to maintain full-year adjusted operating profit margins at 2008 levels, which it gave just a month ago.
First-half adjusted operating profit rose 5 percent to 146.6 million pounds ($242.5 million), in line with Reuters consensus, while revenue rose 1 percent to 636.3 million pounds.
The company said organic growth at its publishing businesses, which were underpinned by subscription revenues, offset declines in events and training as companies cut back on travel and investing in staff.
"In the most trying economic circumstances, we have delivered a good set of results, remain in line with market expectations and are confident about the group's future prospects," Chairman Derek Mapp said in a statement.
Informa said it had achieved its target of 20 million pounds in annualised cost savings, and reduced its net debt to 984.5 million pounds, giving it a net debt to EBITDA (earnings before interest, tax, depreciation and amortisation) ratio of 3.
Informa shares have risen 22 percent since the start of 2009, outperforming the European media index by 27 percent, as they are considered cheap at about 7 times earnings while offering both resilience and recovery potential. ($1=.6045 Pound) (Reporting by Georgina Prodhan; editing by Simon Jessop)