UBM’s margins expected to slip

Exhibitions group UBM saw its share price fall 3.7 per cent yesterday after the company said 2014 margins for its events business would fall to 30 per cent, below forecasts. The company said that trading in 2013 is in line with expectations but warned that the new year would be affected by adverse exchange rates as 85 per cent of its revenues are not generated in pound sterling. UBM’s share price closed at 650p.