Interim Results: UBM Event Revenue up 22 Percent
London-based B2B media group, UBM plc, released its interim results for the nine months ended Sept. 30 The company posted revenues of £734.6 million in the first nine months in 2012, a year-on-year increase of 4.0 percent compared with last year’s £706.2 million. Adjusted operating profit in the period was £141.7 million, compared with £127.5 million in the first nine months in 2011 – an 11-percent growth.
Revenues from its events business during the nine-month period were £338.9 million, up 22 percent, compared with £278.5 million recorded in 2011. Adjusted operating profits from events were £105.1 million this year, a rise of 23 percent, compared with £85.5 million in the same period last year.
UBM also reported that some of the company’s top 20 shows recorded double-digit growth in the quarter including Furniture China and Children-Baby-Maternity-Expo. Forward bookings for the company’s top 20 annual events are also up 15% compared with the previous year.
David Levin, CEO of UBM, said, “UBM remains on track to deliver the consolidated group guidance we reiterated at the interim results. Events growth continues as expected with good growth in our large Q3 events, particularly in China, and we continue to invest to strengthen our global events business.”