Sign in or Register | Newsletter
 
 
Register today to receive each issue absolutely FREE!




Martin Clarke, NEC marketing director talks appreciation,...

From a chance seaside find, Neptunus MD April Trasler, tells EN how...

Richard Mann, market development director at the NEC asks who owns...

Exhibition News March 2015
March 2015

Reed Exhibitions reports double-digit revenue rise
posted on: 26/7/2012 10:28:07
Erik Engstrom

Strategic acquisitions and organic launches in emerging markets and the US have helped Reed Exhibitions report a 23 per cent rise in revenue in the six months to 30 June.
 
According to its latest half-yearly financial year, Reed Exhibitions chalked up a 32 per cent revenue rise year-on-year to £486m, or 23 per cent underlying revenue growth (12 per cent excluding cycling).
 
Adjusted operating profit also lifted to £151m, up from £113m in the first half of 2011. Reed Exhibitions represented 18 per cent of parent company Reed Elsevier’s total adjusted operating profit.
 
According to Reed, its first six months benefited from the timing of annual shows, adding four percentage points to growth. A major highlight was double-digit revenue growth in emerging markets after investment into higher growth markets, new launches and small selective acquisitions.
 
Recent deals include expansion of its partnership with India-based Manch Communications, a joint venture in China to launch the new Reed Hongda Exhibitions business in the automotive aftermarket, and a JV with Panorama Group in Indonesia for the mining industry.
 
Reed Exhibitions launched 15 new events in the first half of the year. The US also generated double-digit revenue growth, excluding biennial cycling effects.
 
In contrast, Reed Exhibitions reported low to mid single-digit growth in Europe. As a whole, Reed Elsevier chalked up a 5 per cent revenue increase to £3.05bn for the first half of 2011, after adjusting for acquisitions and disposals and currency translation.
 
“We also continued to support organic growth and build on our market leadership by completing a number of small but selective acquisitions in high-growth markers and buying out our joint venture in Brazil,” Reed stated in its half-yearly report.
 
“We continue to expect strong financial year 2012 underlying revenue growth (excluding cycling), albeit moderated somewhat from the double-digit rate that was achieved in our first-half as the effect of annual show timing unwinds.”
 
Chief executive Erik Engstrom (pictured) said Reed continues to transform its core businesses through organic growth supported by select smaller acquisitions.
 
“The outlook for the macro economic environment remains uncertain, but based on our good first-half results and the continuing improvement in the quality of our earnings, we expect to deliver underlying revenue and profit growth for the year in line with our expectations,” he said.
 
Got a story for Exhibition News? Email us: exhibitionnews@mashmedia.net


Print:
Email:
Share article:

COMMENTS
Would you like to Leave a Comment?

LATEST NEWS
Sharp visitor rise for RBTE 2015
posted on: 30/3/2015 15:34:40
Legend Exhibitions has reported a sharp rise in visitors at this year’s Retail Business Technology Expo (RBTE), held at Olympia London alongside the inaugural Retail Design Expo.

Paul Stoddart joins Capita Travel and Events
posted on: 30/3/2015 14:54:59
Multi-specialist travel, accommodation and events firm Capita Travel and Events has appointed Paul Stoddart to the new board position of director of meetings and events.

Barbican to host Event Photography Awards 2015
posted on: 30/3/2015 14:38:28
The Event Photography Awards 2015 is gearing up for its second year, celebrating clever capturing of experiences and moments at all types of events.

Organiser Clarion Events has announced the acquisition of Internet Retail Events Ltd from SJP Business Media.

The Department for Culture Media and Sport (DCMS) has proposed forming a Business Visits & Events board, comprising industry representation with government departments and agencies.