News this week: Earlier this week, London-listed
UBM plc released its results for the quarter ended 31st March 2013. UBM’s revenues were down 7.9% year-on-year from £211.5 million to £194.7 million. Adjusted group
operating profits decreased 24%
from £46 million to £35 million.
Revenues from the company’s events business, which accounted
for more than half of overall
revenue, were down 9.7%
year-on-year at £109.4 million,
compared with last year’s £121.1 million.
Adjusted group operating profits decreased
from £42 million to £30 million, down 29%. The company attributed
the decrease to effects of biennial show cycling and the movement of events
between quarters, but noted that shows in the U.S. and emerging markets
performed well.
David Levin, CEO of
UBM, said: “UBM had the tough first quarter we anticipated, with Events
revenues reflecting declines in our UK Built Environment shows. Our portfolio
of events in the US and Emerging Markets performed well. Forward bookings are
tracking in line with our expectations and we continue to expect strong growth
through the balance of the year, particularly in our Emerging Markets events
which are weighted to the second half.”
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