Britain's UBM Unveils Strong Second Half

22 December 2003

An upturn in trading conditions has helped UK-headquartered media group United Business Media to a strong second half.

In a trading update late last week, UBM said it had made "good progress" in the last six months of 2003 and was on course for year-on-year growth in H2 revenue despite the weak dollar. Operating margins will likely be higher than the 12.2% in the first half, putting the full-year margin comfortably ahead of the 10% target.

UBM -- which owns US technology publisher CMP Media, market researcher NOP World and a 35% stake in British broadcaster Five -- has benefited from an improvement in US conditions and a strong recovery in Asia after SARS hit first-half results. The group's UK publishing and events interests have also performed well.

The update came as UBM announced the purchase of Eurisko, Italy's biggest independent market research firm, for £23 million ($41m; €33m).

Data sourced from: multiple sources; additional content by WARC staff