24th Apr 2015 07:00
UBM PLC - Q1 Trading UpdateUBM PLC - Q1 Trading Update
PR Newswire
London, April 23
24 April 2015 UBM plc Positive Q1 performance in line with expectations On track for the full year UBM plc today issues the following trading update for the three months to31 March 2015 (Q1). UBM performed well in Q1, in line with the Board's expectations. Growth inEvents was as anticipated, with the largest events continuing to driveperformance. There was a strong performance from Game Developer Conference,solid growth at Seatrade Cruise Global and Enterprise Connect, and Ecobuildrevenue was up over the prior year. UBM Advanstar's MAGIC Marketplace eventswhich ran in February performed well, in line with expectations. The performance of Other Marketing Services was as anticipated and PR Newswireperformed satisfactorily. The integration of Advanstar is progressing well with synergies in line withexpectations. In March we brought together UBM's and Advanstar's US medical,dental, veterinary, nutrition and pharma brands into a single business unit,UBM Life Sciences. Good progress has been made in the implementation of the `Events First'strategy. During the period we have rationalised a number of smaller, lessprofitable or loss-making events, discontinued various non-core technology OMSactivities in the US and India, and have made good progress in a number ofoperational excellence initiatives. On 22 April 2015 UBM signed a new £400 million five year syndicated RevolvingCredit Facility (`RCF') with our core relationship banks, replacing theexisting £300m RCF and paying down the $100m Bridge Facility put in place forthe acquisition of Advanstar. The outlook for the full year is unchanged. - Ends - Contacts UBM plc Peter Bancroft Director of [email protected] +44 207 921 5961 Communications Kate Postans Head of Investor [email protected] +44 207 921 5023 Relations Brunswick Jon Coles, Andy Rivett-Carnac, Craig [email protected] +44 207 404 5959Breheny Notes to Editors - About UBM plc UBM plc is a leading global events-led marketing services and communicationscompany. We help businesses do business, bringing the world's buyers andsellers together at events, online and in print. Our 5,000 staff in more than20 countries are organised into specialist teams which serve commercial andprofessional communities, helping them to do business and their markets to workeffectively and efficiently. For more information, go to www.ubm.com; for UBM corporate news, follow us onTwitter at @UBM_plc and go to http://media.ubm.com/social for more UBM socialmedia options.
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