10th May 2007 14:30
Statement to the Annual General Meeting of United Business Media Plc
Trading in line with expectations
Speaking at United Business Media Plc's annual general meeting in London today, the Chairman, Geoff Unwin, said:
"In 2007 we are continuing the strategic development of United Business Media as a focused set of professional B2B media and service businesses that connect buyers and sellers across complementary media - events, data, online, print and news distribution - helping buyers and sellers to do business, and their markets to operate effectively and efficiently.
United Business Media's trading has been in line with expectations, with the trends we outlined in our results announcement in March continuing to be evident. Due to the timing of our major events this year, the balance of earnings is likely to be more weighted toward the second half of the year than in 2006.
PR Newswire has made a good start to the year. Both of the recently acquired businesses, US Newswire and Vintage Filings, are performing well. PR Newswire's new products are showing good growth and the business is planning further international expansion in South America, the Middle East and Asia.
CMPi has made a solid start to the year, with a strong performance in international exhibitions being offset by a mixed performance in the UK. At CMP Technology, growth in events and online has offset the continued decline in print titles. Recent trade shows and conferences have performed ahead of plan. The re-organisation of the business announced in March is under way.
The performance at CMPMedica has been mixed. Its directory and data businesses have made a good start to the year but the Continuing Medical Education and certain publishing businesses have fallen short of their planned performance. The recent acquisition of Physicians Practice, LLC has strengthened the US business's offering for primary care physicians.
CMP Asia's business is performing as planned, with further expansion taking place in China and India. Commonwealth has achieved good growth in its data and directories business. As part of its expansion plan, Commonwealth has several new events planned in Asia in the second half of the year."
- Ends - ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Fiona Mulcahy Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2807 Mobile +44 07903 737656 Analysts/Investors Email [email protected] Direct telephone +44 20 7921 5095 Nigel Wilson +44 20 7921 5019 Andrew Crow +44 20 7921 5940 Notes to Editors
About United Business Media Plc
United Business Media Plc is a leading global business media company. We inform markets and bring the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewellery dealers, from farmers to pharmacists around the world. Our 5,000 staff in more than 30 countries are organised into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.unitedbusinessmedia.com.
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