UBM sees events revenue drop by £4m in 2009

Industry giant UBM recorded a fall in events revenue of 1.5% in 2009, in what is seen as a strong performance given underlying market conditions.

UBM sees events revenue drop by £4m in 2009
UBM sees events revenue drop by £4m in 2009

Events revenue fell to £287.5m (from £291.8m) according to the firm's full-year results.

UBM chief executive officer David Levin said: "Our events business traded well in 2009, contributing more than half our adjusted operating profits and demonstrating the growing importance of market-leading, face-to-face events in the digital age."

"Our large tradeshows fared particularly well, with our top 20 annual events - which contribute around half of our events revenue and more than two thirds of our events-adjusted operating profits - growing by nearly 12%."

More negatively, forward bookings for UBM's top 20 annual events due to run over the next 12 months are currently 1.7% below last year's level.

Separately, the firm has acquired E Commerce Expo on behalf of its UBM Live division, for an initial cash consideration of £600,000 and a deferred amount dependent upon future financial performance. The deal for the Olympia-based show also incorporates Manchester-based E Commerce Expo North.

The group saw overall revenue fall from £887m in 2008 to £847.6m in 2009.

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