UBM reports 6.3% growth in events revenue

UBM has announced its events division saw a 6.3% year-on-year increase in revenue to £462.7m, which has been attributed to large events and the company's presence in China.

David Levin highlights event division growth at UBM
David Levin highlights event division growth at UBM

Today (28 February) UBM published its full-year financial results ending 31 December 2013. The results highlighted overall revenue rose by 3.7% to £793.9m, and the company saw adjusted operating profit increase by 6.3% to £186.3m.

David Levin, chief executive at UBM, said 2013 was a year of strategic progress and operational achievement for the company, against a difficult economic backdrop. "2013’s good revenue and profit growth was bolstered by a strong performance from our biennial events in the second half of the year.

"We disposed of our data services business and substantially restructured our marketing services activities to focus on the professional communities our events serve. We end the year with significantly higher quality earnings and with the business better positioned for structural growth."

He added the growing strength of the events business, focused particularly on large events as well as China and other growth markets, has helped UBM to "affirm its strategic choices and to demonstrate live media is an increasingly significant component of business-to-business marketing programmes".

Looking ahead, UBM said its will be expanding its events arm in 2014 through new launches and shows tailored to international markets, as well as investing in exhibitor and visitor experiences and improving health and safety.

The business anticipates the events division to grow in line with 2013, with China, UBM’s largest events market, to continue to contribute to this result.

UBM added expansion into China and other markets will offset continued cyclical pressure on its UK built environment shows such as Ecobuild and the Building Awards, as well as venue space constraints at a number of its largest events.

The company has forecast its overall events margin for 2014 will be around 30%.

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