Events group UBM buoyed by overseas shows

Oliver Smith
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MARKETING and events group UBM said it is on track to hit targets on an underlying basis after performing well in its third quarter to 30 September.

“While reported results will continue to be affected by currency movements, underlying perform­ance remains on track for the full year with all three business segments expected to deliver in line with the guidance given at the half year,” UBM said in its interim management statement yesterday.

The company said a number of events including the US security conference Black Hat and the Children Baby Maternity Expo in China had performed strongly during the quarter driving its results.

“Good underlying growth in the events business was driven by the five Top 20 shows which ran during the third quarter,” said UBM.

UBM also said its PR Newswire arm generated “solid underlying growth and good margins”.

During the last quarter UBM said it has invested £7.4m in its events business, acquiring Seatrade Communications and the remaining 30 per cent stake in Catersource.

Shares in UBM rose 1.78 per cent yesterday to close up at 544p.