UBM says: UBM has continued to perform in line with expectations during the period.
The largest events continue to drive performance, consistent with the ‘Events First’ strategy.
Recent events such as CBME, Black Hat, MAGIC, Hong Kong Jewellery and Gem, CPHI and ICSE all performed strongly as expected. Following the move in location and timing, Sign China revenue was lower and there was weakness in some of the smaller shows. Furniture China revenue was as anticipated and the show ran well with positive exhibitor interest for 2016, although the competition is ongoing.
PR Newswire and Other Marketing Services performed in line with expectations.
Advanstar’s performance remains in line with our expectations and the integration is on track.
On 23 September UBM announced it was in highly preliminary discussions with a number of parties about a potential sale of PR Newswire. These discussions are ongoing. There is no certainty that they will result in a transaction being agreed.
The outlook for the profitability of the group in 2015 remains unchanged.
