Friday, August 09, 2013

UBM’s first half revenue down 1.5%

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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