Publishing and media group, United Business Media (UBM), has reported an increase in profit of 36.9 % up to £141.4 million for the financial year ending 31 December 2004.
The group saw growth across all sections, with turnover up 8.4% to £809.6 million and operating profit up by 33.1% to £132.3 million.
UBM’s operating margin continued the upwards trend, with results for 2004 rising by 16.3%, up from 13.3% year on year. Underlying profit for the Group was up by 20.05% for 2004, with underlying turnover increasing by 3.2%.
Commenting on the results, Sir Clive Hollick, chief executive of UBM said: “Acquisitions are performing ahead of plan and the investment in multimedia products is paying off with a 33% increase in online revenues and the prospect of good growth in 2005.”
He continued: “The investment programme over the last two years has strengthened the product range we offer to the increasingly diverse range of market sectors we serve. Many of these new products have impressive growth rates based on long term client relationships. Together with our acquisitions those provide United with a greater proportion of predictable revenues.”
Recently UBM announced the disposal of its market research firm, NOP World, valued at £250 million (see UBM Considering Sale Of NOP World), sparking interest from WPP, Aegis and Taylor Nelson Sofres (see Race For NOP Starts).
Talking about the outlook for 2005, Sir Hollick remained optimistic, and said: “Despite the weakness of the dollar and the rise in investments in new products, overall trading to date and the improving order books point to another year of good progress.”
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