'Strong year' at UBM plc as profits rise 17.5%

Business-to-business publisher UBM plc has reported a successful year of trading in 2011, with a 17.5 per cent surge in profits driven largely by the events arm of the business.

The group, which has been selling a number of its legacy print titles to other publishers in the past year, said in its end-of-year results today that 2011 had been a "strong year".

Full-year revenue climbed by 9.3 per cent to £972.3m and operating profit was up 17.5 per cent to £201.9m over the same period on a like-for-like basis. Almost two thirds of the group's profits came from events.

UBM plc chief executive David Levin said an "outstanding performance" from events in the last three months of the year had "capped off a year of consistent delivery".

He said in today's results: "These results are the fruit of our consistent strategy to focus on providing marketing, communications and data services, in winning formats, to thriving business communities.

"2012 trading has started well. We anticipate continued underlying growth and a positive performance across the business whilst recognising the continuing uncertainties of the global economy."

On a like-for-like basis, revenues from print declined by 4.6 per cent. The group sold The Publican to William Reed in March, and its entertainment and technology titles to Intent Media in June.

In their place, UBM plc has been acquiring events and trade fairs. The group announced four new events acquisitions today - mostly in emerging markets.

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