According to UBM plc:
UBM performed well in the third quarter, in line with the Board’s expectations. 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.
Good underlying growth in the Events business was driven by the five Top 20 shows which ran during the third quarter. Both Black Hat in the USA and Children Baby Maternity Expo in China performed strongly and World Routes held in Chicago and the September Hong Kong Jewellery & Gem Fair delivered good performances. Solid year-on-year growth was achieved by Furniture China.
The focus in Other Marketing Services continues to be on aligning sustainable online and print marketing services more closely with the Events business.
PR Newswire generated solid underlying growth and good margins.
Portfolio changes
During the quarter we invested £7.4m in our Events business, acquiring Seatrade Communications and the remaining 30% stake in Catersource.
UBM will give a Strategy Presentation at the London Stock Exchange at 9am on Monday 3 November 2014.
