UBM's profits up 10.5%

UBM, which runs International Confex, has grown its gross profit to £91.9m for the year ending 30 June 2011, up from £82.3m last year.

UBM's profits up 10.5%
UBM's profits up 10.5%

UBM also reported an increase in turnover of 12.7% from £434.3m to £474m.

UBM’s chief executive officer David Levin said: "We have had a good first half with the business trading in line with our guidance. These positive revenue trends have driven healthy 10.5% growth in adjusted operating profit, an increase in our Group margin to 19.4% and were accompanied by strong cash generation.

"During the first half of the year, we acquired four events businesses and launched nine new and geo-adapted tradeshows. We’ve continued our targeted investment in online, social media and workflow products, particularly in our data services."

UBM recently aquired Ecobuild, a trade show for the sustainable construction market.

Levin added: "Overall our outlook for the full year has improved modestly since we now expect our events business to outperform the guidance we gave in March."

 

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