Positive performance - 2012 Group guidance maintained
Interim Management Statement for the nine months ended 30 September 2012
Highlights
- Revenue for the nine months was up 4.0% at £734.6m (Sept 2011: £706.2m); underlying revenue growth was 4.9%
- Adjusted operating profit was up 11.1% to £141.7m (Sept 2011: £127.5m)
- Adjusted operating profit margin rose to 19.3% (Sept 2011: 18.1%)
- Consolidated Group guidance for full year 2012, of 4-5% underlying growthand a margin greater than 19.3%, remains unchanged
- UBM's Board of Directors has decided to recommend that UBM plc return to a United Kingdom tax domicile, subject to shareholder approval
David Levin, Chief Executive Officer, UBM said:
"UBM remains on track to deliver the consolidated Group guidance we reiterated at the Interim Results. Events growth continues as expected with good growth in our large Q3 events, particularly in China, and we continue to invest to strengthen our global Events business. PR Newswire performed well, with good growth and margins on track. The Data Services and Marketing Services segments reflects slightly softer market conditions in businesses that serve the global semi-conductor industry. Our guidance reflects this softness and we remain mindful of the continuing uncertainties in the macro environment. We expect to complete the strategic review of Data Services by the end of Q1 2013."
