United Business Media In Line With Target Says Chairman
United Business Media (UBM) is performing ahead of last year and is expected to achieve 15% margin target in 2004.
At the company’s Annual General Meeting, chairman, Geoff Unwin, said: “2004 has started well. All of our businesses are performing ahead of last year, consistent with the positive trends of the second half of 2003.”
The US hi-tech publishing division, CMP Media, is 3% ahead of underlying revenue; with a strong performance from online and events continuing.
Last year it was reported that UBM was experiencing the most stable environment for over two years. Unwin said: “Since then, our businesses, particularly those in the US, have all made good progress – with the combination of revenue growth and a restructured cost base, boosting profits and margin.
He added: “The profit contribution from acquisitions made over the last year is in line with target. All in all, a positive and promising performance.”
Early this year, UBM reported that hi-tech publishing advertising page volumes fell by 9.2% year on year in February.
UBM: 020 7921 5000 unitedbusinessmedia.com
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