Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Trading Update & Board Changes

30th Jan 2018 07:03

RNS Number : 3000D
UBM PLC
30 January 2018
 

 

UBM LEI: 213800KLMH5SP3247C87

30 January 2018: for immediate release

 

 

UBM Trading Update

& Board Changes

 

UBM plc issues the following trading update for the year ended 31 December 2017.

UBM's trading in the fourth quarter has been ahead of company expectations, with particularly good performances at the CPhI events, Cosmoprof and Food Ingredients. Given the strength of this recent performance, UBM now expects to deliver adjusted underlying annual events revenue growth of at least 5% (with corresponding underlying revenue growth of approximately 3.5%). This, coupled with an OMS performance in line with UBM's expectations, will result in reported total group revenues of approximately £1,000 million(1) for the year ended 31 December 2017.

As a result of the strong performance, in what is a biennial up-year, the board of UBM expects the UBM Group adjusted operating profit(2) margin to be approximately 29%(1) and consequently the full year outturn to be ahead of expectations.

The UBM Group intends to declare a final dividend of 18.0 pence per share, with a proposed record date of 20 April 2018, in respect of the year ended 31 December 2017. This would result in total dividends per share for the 2017 financial year of 23.5p, a year-on-year increase of 6.8%.

To coincide with Informa, UBM now intends to release its 2017 Full Year Results on 28 February 2018.

 

UBM is also pleased to announce that with immediate effect, Greg Lock, currently Acting Chairman, has been appointed Non-Executive Chairman and Warren Finegold, Non-executive Director, becomes Senior Independent Director and Chairman of the Remuneration Committee. This announcement is made in accordance with LR 9.6.11.

 

(1) 2017 average exchange rate of $1.28

(2) Operating profit excluding amortisation of intangible assets arising on acquisitions, exceptional items and share of taxation on joint ventures and associates.

 

- Ends -

 

Contacts

 

Kate Postans

Head of Investor Relations & Corporate Communications

[email protected] [email protected]

+44(0) 20 7921 5023

 

Caroline Daniel Craig Breheny Imran Jina

Brunswick Group

[email protected]

+44(0) 20 7404 5959

 

 

Notes to Editors

 

UBM plc is the largest pure-play B2B Events organiser in the world.

 

In an increasingly digital world, the value of connecting on a meaningful, human level has never been more important. At UBM, our deep knowledge and passion for the industry sectors we serve allow us to create valuable experiences where people can succeed. At our events people build relationships, close deals and grow their businesses.

 

Our 3,750+ people, based in more than 20 countries, serve more than 50 different industry sectors - from fashion to pharmaceutical ingredients. Our global networks, skilled, passionate people and market-leading events provide exciting opportunities for business people to achieve their ambitions.

 

For more information, go to www.ubm.com; for UBM corporate news, follow us on Twitter at @UBM.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCZMGFMVGNGRZG

Related Shares:

UBM
FTSE 100 Latest
Value8,275.66
Change0.00