Reed reports European exhibition slowdown in Q1 report
posted on: 24/4/2012 08:14:01
Reed has highlighted good growth across annual exhibitions in emerging markets but some slowdown in Europe in its latest interim management report.
In its first quarter statement, Reed Exhibitions reported strong growth across annual events in North America, Asia and Latin America, but said growth had been at lower levels year-on-on-year across Europe. The first quarter benefited the most from net cycling of biennial events.
Over the first quarter, Reed completed its buyout of Brazilian joint venture Alcantara Machado and made smaller acquisitions in Brazil, including Equipotel and the Santos Offshore Oil and Gas Expo.
The company also made purchases in China and in the alternative energy sector including a majority stake in All-Energy Australia in March.
“The Q1 trends, with good growth in most annual shows, are expected to continue,” Reed said in its interim statement. “The positive impact of biennial cycling in 2012 will be particularly apparent in the first half.”
Across the rest of the Reed Elsevier business, underlying growth rates in Q1 were consistent with the 2011 full-year trends.