UBM invests in emerging markets as shifts focus

United Business Media (UBM) yesterday posted a 5.3 per cent drop in full-year pre-tax profit as the events and publishing group increased investment in data services and emerging markets.

UBM, which has rationalised its print titles as advertising has moved online and shifted its focus to events and data services in faster-growing emerging markets and the US, said it had made a good start to the year.

Chief executive David Levin said: “We’ve come through the massive shock of the wider financial markets in the last couple of years and in addition to that we’ve had to grapple with the structural change in our industry.”

He said the group’s performance was bolstered by 20 per cent revenue growth in China, India and Brazil, and strong trading in events, such as the Hong Kong Jewellery & Gem Fair, which accounted for 54 per cent of profit.