Wednesday, July 26, 2006

CMP reports solid 1H growth in Asia

United Business Media has just reported its first 6 months with revenues - driven by acquisition boosts - up over 25%. Good for them.

CMP Asia reported underlying revenues and profits both up by around 8 - 9%, a pretty solid performance. At current exchange rates, its GBP26.5 in first revenues translate to a hair under $50 million. With several big trade fairs scheduled for September and October, we may see it push full year revenues past the $100 million level.

The company says that growth in Asia was "driven principally by the growth of the exhibitions in Hong Kong, China and Japan". It goes on to note "We are investing in China, India and in new online media products to increase our presence in higher growth markets. We have opened an office in Mumbai, India and are launching new events. We continue to seek expansion opportunities and in the first half announced our intention
to acquire a majority share in the Guangzhou Beauty Fair (China)".

Full disclosure: as a former employee of what was then Miller Freeman Asia, I maintain a small block of UBM share so watch them with more than the usual care and attention.

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