United Business Media (UBM) reported a year on year rise of 7.2% in full-year profit this morning, revealing plans to return more than £300 million in capital to shareholders over the next two years.
Pre-tax profit for the year ended 31 December increased to £152.1 million from £141.9 million a year earlier, while revenue for the group grew by 21.3% year on year, reaching £675.8 million. Elsewhere, revenues in UBM’s online businesses rose by 24.4% to £42.7 million.
Performances in UBM’s print divisions were mixed, with the group’s French businesses offsetting weaker revenues in the UK.
Commenting on the results, David Levin, UBM chief executive said: “2006 has begun with a solid performance. PR Newswire is continuing to perform well. Our events business remains strong worldwide and forward bookings are ahead of the prior year.”
UBM’s figures are in line with previous expectations. The company continues to meet expectations, with growth within the print sector remaining challenging (see UBM Meets Expectations Despite Pressure In Print).
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