News this week: Earlier this week, London-based
B2B media group, UBM plc, released its
interim results for the nine months ended 30th September 2013. The company posted revenues of
£580.5 million (US$940 million)
in the period, a slight increased of 0.6% from last
year. Adjusted operating profit in the first
nine months of 2013 was £117.9
million (US$191 million), a
year-on-year 4.3% decrease.
Revenues from its events business in the first nine months of the year were £331.3 million (US$536 million), up 2.7% over 2012. However, adjusted
operating profit from events dropped
9.7% to £92.8 million (US$150
million) in the period. According to UBM, five of its top 20 events
were held in the quarter, where the company reported strong double digit growth
of its Children-Baby-Maternity-Expo. Forward booking for UBM’s 2012 top 20
annual events are up 8.5% compared to last year.
David Levin, CEO of
UBM, commented, “Our performance in Q3 continued the positive momentum we have
seen develop through the year. Large events, notably our shows in China, have
performed well, and we continue to expect good growth in Q4 boosted by strong
biennial revenues. We have seen softer conditions in certain markets, mainly in
Brazil and India, and have slightly reduced the number of new launch events
originally scheduled for Q4.”
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.
No comments:
Post a Comment