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UBM reports strong nine months
posted on: 18/10/2011 10:21:26
UBM’s revenue for the last nine months was up 9.8 per cent to £706.2m and contributed to underlying revenue growth of 8.5 per cent.
Adjusted operating profit for the company climbed by 16.4 per cent to £127.5m from £109.5m, with adjusted operating profit margins rising from 17 per cent to 18.1 per cent. UBM claimed the result was “driven by strong events margin”.
“Given the growing concerns over the global economic environment, we continue to be vigilant for signs of an economic slowdown but to date we have seen no material impact across UBM,” said UBM CEO David Levin.
Levin said events “now comprise a significantly larger part of our business” and that the company has substantially lower exposure to print. He also pointed out 22 per cent of UBM’s revenues are generated in the emerging markets. The business in China was highlighted as experiencing excellent growth and strong margins.
“We believe UBM is a stronger, more resilient business than in previous years,” Levin continued. “We remain on track to deliver results in line with the guidance we gave in July for the full-year 2011 on both a consolidated and divisional basis.”