UBM plc has reported results for the six months ended 30 June 2012
Highlights
- Revenues up 7.3% to £508.7m – underlying revenue growth of 6.8%
- Adjusted operating profit up 12.5% to £103.4m
- Fully diluted adjusted EPS up 13.9% to 28.6p
- Cash generation from operating activities up to £113.9m (112% conversion)
- Events operating profit up 29.6% to £74.8m, 66.5% of group total (excluding corporate costs)
- Forward bookings for top 20 events up 12.7%
- Emerging Markets revenues up 20.9% to £93.1m, representing 18.3% of total
- Seven acquisitions completed in H1 for expected consideration of £26.6m
- Initiated strategic review of Data Services businesses
David Levin, UBM’s Chief Executive Officer, commented, “We have had a good first half of the year with underlying revenue growth of 6.8% and margins up almost a percentage point to 20.3%. Our strategy is
yielding positive results as we continue to improve the quality of the business. We have decided to explore strategic options for the Data Services businesses to confirm we are allocating capital appropriately between the growing number of opportunities now available to us.
Our events portfolio performed very well with good attendee-led technology events in the US, an above-plan performance at Ecobuild in its first edition under UBM ownership, and strong results from our events in Emerging Markets, particularly in China. PR Newswire generated GDP-plus revenue growth and improved its margins while also launching new products. Data Services results reflect specific challenges in two verticals but overall the business made good progress. Marketing Services – Online grew well, led by our community-focused products, while the Print component declined more rapidly than anticipated.
We remain on track to meet our expectations for the full year. We now expect improved underlying growth for Events of 12%-14%. PR Newswire remains on track. We maintain full year guidance for Data Services where we expect an improved performance notably from UBM TechInsights in the second half. However, we now expect Marketing Services – Online and Print to deliver growth of between 0%-2%. While our business is trending positively, we are retaining our consolidated guidance as we are mindful of the uncertain external environment.”
Read the full announcement here http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11279128
UK, London
Related articles:
- UBM Aviation Routes Limited acquires Airlineroute.net Posted on May 20, 2012
- UBM plc acquires Negocios nos Trilhos, South America’s leading railway industry exhibition Posted on April 16, 2012
- UBM 2011 results Posted onFebruary 28, 2012
- UBM acquires four tradeshows Posted on February 28, 2012
- UBM acquires Renewable Energy India Posted on February 28, 2012
- UBM plc acquires 4G World exhibition and conference Posted on February 7, 2012
- UBM sells its Daltons business Posted on February 7
- Founders of Briefing Media to acquire UBM’s UK agriculture and medical general practitioner portfolios Posted on February 7, 2012
- UBM plc and Roularta Media Group form Belgian medical print journal joint venture business Posted on February 3, 2012
- UBM TechWeb acquires Online Marketing Summit Posted on November 19, 2011
- Intent Media acquires UBM titles for £2.4m Posted on June 27, 2011
- UBM acquires 70% of US catering tradeshow business Catersource for $5 million Posted on June 21, 2011
- UBM plc acquires AMB exhibitions business in South East Asia Posted on May 12, 2011
- UBM Medica sells The Consultant Print Group April 29, 2011
- UBM Q1 results Posted on April 21, 2011
- UBM disposes of French medical print business Posted on March 1, 2011
- UBM disposes of UK licensed trade portfolio Posted on March 1, 2011
- UBM acquires Indian travel tradeshow SATTE Posted on March 1, 2011
- UBM to acquire stake in Famdent, India’s largest dental exhibition and conference business Posted on March 1, 2011
- UBM acquires Publishing Expo tradeshow for £320,000 Posted on November 11, 2010
- UBM acquires Lead in Research for £1.45m Posted on November 2, 2010
- UBM acquires Hors Antenne for up to €9m Posted on October 20, 2010
- UBM acquires OBGYN.net for $0.8 million Posted on October 15, 2010
- UBM to acquire 65% stake in Rotaforte International Trade Fairs & Media Posted on October 14, 2010
- UBM acquires Canon Communications LLC for $287 million Posted on September 16, 2010
- UBM agrees to acquire UM Paper for up to $880,000 Posted on September 16, 2010
- UBM Studios acquires virtual recruitment fairs business Astound Posted on September 1, 2010
- UBM Aviation acquires The Route Development Group Posted on August 13, 2010
- UBM acquires Children-Baby-Maternity Products Expo in China and related assets Posted on August 13, 2010
- PR Newswire acquires CORPORATE360 Posted on June 29, 2010
- UBM to acquire majority stake in Navalshore Posted on June 15, 2010
- UBM Global Trade acquires selected Centradex assets Posted on May 6, 2010
- UBM acquires web-based marketing business SharedVue Posted on April 21, 2010
- UBM TechWeb acquires Game Advertising Online for up to $8million Posted on February 26, 2010