Friday, May 02, 2014

UBM’s Q1 revenues drop, forward event bookings up

News this week: Earlier this week, London-listed UBM plc released its results for the quarter ended 31st March 2014. UBM’s revenues were down 14% year-on-year, to £163.0 million (US$272 million). Adjusted group operating profit was £29.4 million (US$49 million), down 17% from the same period of last year.

Revenues from the company’s events business, which accounted for 57% of overall revenue, were down 13% year-on-year at £93.3 million (US$156 million). Adjusted group operating profit dropped 19% to £24.3 million (US$41 million). The company attributed the decrease to fluctuations in foreign currency exchange rates and adverse phasing during the period, but noted that shows in the U.S. and emerging markets performed well to offset the expected decline in the U.K.

On the positive side, forward bookings for UBM’s 2013 Top 20 events running in the next 12 months were valued at £136.7m (US$231 million), up 22.2% compared to the same time last year.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates. 

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