News this week: London-listed media group, United Business Media (UBM), released its interim management statement reporting on its first quarter results. Overall group revenues were £237.7 million (US$381 million) – a 13.7% year-on-year increase. Adjusted operating profit was £44.6 million (US$71.5 million), an increase of 18.6% over the same period last year.
Event revenues were £84.1 million (US$135 million), a rise of 34% over the same period last year. Adjusted operating profits were up 68% up from £16.5 million (US$26.5 million) last year to £27.7 million (US$44.4 million). The strong growth was attributed to UBM’s events in emerging markets as well as the events acquired from Canon Communications. UBM’s management also reported that forward bookings for the company’s top 20 events in 2010 are up 21%.
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