News this week: London-based, UBM plc has reported its interim results for the
six months ended 30th June 2013.
Revenues in the first half were £391 million
(US$595 million), down 1.5%
from last year. Adjusted group operating profit dropped 9.0% to £81 million (US$123 million) in the first half. The company claimed the decline was
reflecting its first quarter performance.
Revenues generated
from the company’s events business were £220 million
(US$335 million), contributing 56%
of the group total. The events
business’ revenues dropped 1.1% year-on-year. Adjusted group operating profit
for the events business was down 14% to £63 million (US$96 million). Forward bookings for the company’s
top 20 events were up 12%.
The performance of events
in emerging markets was strong
in the first half. Revenues increased
10% to £89.5 million
(US$136 million), with an operating profit of £20 million (US$30 million).
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