Revenue Up 27 Percent for UBM events
B2B media company UBM, released its interim results for the nine months ended Sept. 30.
The company posted revenues of £706 million in the first three quarters, a year-on-year increase of 9.8 percent. Revenues from events during the period were £279 million, up 26.6 percent from 2010. Adjusted operating profits of events were £86 million this year compared with £60 million in the first nine months of 2010.
UBM reported that major events in Asia, which includes the September Hong Kong Jewellery & Gem Fair and Furniture China Fair, saw strong double-digit growth. Forward bookings for the company’s top 20 annual events in 2010 running in the next 12 months are also up 16 percent, compared with the previous year.
David Levin, chief executive officer of UBM, said, “Our Events continue to demonstrate excellent growth and strong margins, particularly in China and across the emerging markets, while our other businesses performed as anticipated with the usual Q3 seasonal effects on revenue and margins. Moreover, given that events now comprise a significantly larger part of our business, that 22 percent of our revenues are generated in emerging markets and that we have substantially lower exposure to print, we believe UBM is a stronger, more resilient business than in previous years.”