United Business Media has seen revenue grow by 25.1% to £394.3m in the first half of 2006, reveals the company’s interim results for the six months ending June 30.
Group operating profit also grew, by 25.1% to £82.3m, while its earnings per share, driven by strong trading performance and enhanced by share buybacks, grew 24.1% on a fully diluted basis.
UBM is also on track to meet plans for acquisitions (£150 million £250 million pa) and capital returns (£300 million by end 2007). In addition it has invested £135m in acquisitions in the year to date and they are performing ahead of the 8% post tax hurdle rate.
UBM recently completed the acquisition of Commonwealth Business Media, Inc. for $152 million. UBM says that the acquisition provides them with a leading position in a new field, the global trade and transportation business intelligence market.
David Levin, chief executive of United Business Media, said: “The outlook for the full year is unchanged. After taking into account the first half weighting of CMPMedica and the MediaLive events, we anticipate that the second half will be broadly in line with the trading patterns reported for the first half of the year. We continue to invest in new product development and plan to spend an additional £5 million to £8 million in the second half, particularly in events and online activities.”
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