22nd Oct 2013 07:43
LONDON (Alliance News) - UBM PLC lowered its expectations for full-year revenue growth Tuesday, saying it now expected it to be at or slightly below the bottom of its guidance range of 3% to 5%, after softer market conditions in Brazil and India had caused it to scale back the number of launch events planned for its fourth quarter.
However, the company said that it had seen positive momentum in its third quarter boosted by large events performing well, and it expects good growth in the fourth quarter. It expects full-year operating margins to be at the upper end of the 22% to 23%.
The marketing and events company said that revenue from its continuing operations was up 0.6% to GBP580.5 million in the year to date, up from GBP577.2 million in the previous year.
The company's PR Newswire division had picked up, UBM said, after a slow summer period. Revenues from PR Newswire were up to GBP152.2 million from GBP147.2 million in the previous year.
UBM is the biggest faller on the FTSE 250 in early trading, down 3.49% at 718 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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