UBM reports growth in Chinese events, US tech recovery

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Events made up 48.9 per cent of exhibition and conference organiser United Business Media’s (UBM) adjusted operating profits for the first half of 2010, fractionally up from the same period last year.Revenues from events, covering exhibitions and conferences, rose by 1.5 per cent and adjusted operating profit rose by 7.7 per cent. Margins rose 1.6 points to 29.2 per cent.Total attendance was up six per cent, and forward bookings for exhibition stand space at the company’s top 10 events in the upcoming 12 months was up 12 per cent.“We have continued to invest in our people and in key organic business developments,” says UBM CEO David Levin, “such as taking our successful event brands into new, fast-growing economies”.The company invested £28.2m in tradeshows this year, including the acquisition of the Hangzhou-based Children-Baby-Maternity Expo for £9.9m.According to the company’s report for the first half of 2010, China now contributes more than 16 per cent of UBM’s profit.“Our events business is performing well, particularly our shows in Asia and our large tradeshows worldwide,” says Levin. “Attendee revenues, notably at our US technology tradeshows, recovered well during the first half of the year and the outlook for tradeshows is improving.“Assuming the improvement in wider economic conditions is sustained, we anticipate our solid first half performance will continue, allowing UBM to deliver full year results in line with our expectations,” he adds. Total revenue for UBM was £434.3m, down slightly from the first half of 2009. Adjusted operating profit was £83.2m, up from £78.3m.
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