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David Levin, Chief Executive Officer, UBM said: "UBM performed in line with our expectations. Our Events continue to demonstrate excellent growth and strong margins, particularly in China and across the emerging markets, while our other businesses performed as anticipated with the usual Q3 seasonal effects on revenue and margins. We remain on track to deliver results in line with the guidance we gave in July for the full year 2011 on both a consolidated and divisional basis. "Given the growing concerns over the global economic environment, we continue to be vigilant for signs of an economic slowdown but to date we have seen no material impact across UBM. Moreover, given that Events now comprise a significantly larger part of our business, that 22% of our revenues are generated in Emerging Markets and that we have substantially lower exposure to print, we believe UBM is a stronger, more resilient business than in previous years."
Interim Management Statement 18th October 2011 Positive performance - On track for the full year Interim Management Statement for the nine months ended 30 September 2011 Highlights * Revenue for the nine months was up 9.8% to £706.2m (Sept 2010: £642.9m); underlying revenue growth was 8.5% * Adjusted operating profit was up by 16.4% to £127.5m (Sept 2010: £109.5m) * Adjusted operating profit margin rose to 18.1% (Sept 2010: 17.0%) driven by strong Events margin * Revenue and margins in the third quarter reflect anticipated seasonality * Our expectations for full year 2011 results remain in line with the overall and divisional guidance provided at the Interim results
http://www.investegate.co.uk/Article.aspx?id=20111018070000PD541
Jime Essink, President and Chief Executive Officer of UBM Asia said: "The acquisition of a majority stake in the Index Fairs immediately puts us in a leading position in this growing market and provides a significant addition to UBM's product portfolio in India. We see many opportunities to build mutually beneficial links between the Index Fairs and UBM's other furniture tradeshows elsewhere in the world. We also see opportunities to launch new shows in other Indian regions."
Acquisition(s) UBM plc acquires 70% stake in Index Fairs, India's largest interiors tradeshows UBM plc today announces it has acquired a 70% equity stake in Index Furniture Private Limited from its private owners on behalf of UBM Asia (www.ubmasia.com). Comprising three annual tradeshows held in Mumbai, Bengaluru and Hyderabad, the Index Fairs (www.indexfairs.com) are India's largest and best-recognised annual furniture and interiors exhibitions, attracting exhibitors of home furniture, office furniture, contract furniture, kitchen, lighting, hardware, intermediates and other interiors products. In 2010 the Index Fairs generated revenues of approximately $1.5m. The value of the business's gross assets at 31 March 2011 was £0.2m. The acquisition is expected to exceed UBM's cost of capital criterion in its first full year of ownership.
http://www.investegate.co.uk/Article.aspx?id=20111003070000P8F8D
Goldman Sachs downgrades United Business Media from conviction buy to buy, target price cut from 810p to 667p.
http://www.ubm.com/ Any thoughts?
Shares in UBM rose by nearly 6% on Friday after it announced a 9.1% rise in first-half sales, a 5% jump in the interim dividend and the acquisition of the world’s largest construction tradeshow. The business-to-business events, marketing and publishing company revealed that headline revenues in the six months ended 30 June increased from £434.3m to £474m, 6.4% higher on an underlying basis. The improvement was boosted by strong growth (+27.1%) in Events revenue and Online Marketing Services (+35.3%). Revenues from Print (through which UBM publishes more than 100 print magazine titles) fell by 19.7%, but the group assured that its dependence on Print sales continues to diminish and now accounts for 12.6% of total sales, down from 17.1% during the same period in 2010. Separately, UBM acquired International Business Events for an initial cash payment of £31m and a further £20m, which will be paid over the next year dependent on performance. The purchased firm owns Ecobuild, “the world’s largest exhibition dedicated to sustainable building products and is the fastest-growing trade event in the UK”, UBM said. Meanwhile, adjusted operating profits rose 10.5% in the first half, from £83.2m to £91.9m. Pre-tax profit rose 7.1% to £62.2m, while earnings per share increased 9.6% to 20.5p. The group raised its dividend per share from 6p to 6.3p.
Espirito Santo initiates sell on United Business Media, target price 465p.
UBM flogs music and entertainment titles Date: Monday 27 Jun 2011 LONDON (ShareCast) - UBM, the FTSE 250 business events organiser and publisher has signed an agreement to sell its UK entertainment and technology product portfolio to Intent Media Ltd for £2.4m. The portfolio is made up of Pro Sound News Europe, TVB Europe, Installation Europe and Music Week print magazine titles and related websites and events. Adrian Barrick, chief executive officer of UBM Connect said: "I am pleased we will pass stewardship of these well-established entertainment and technology titles to Intent Media, which focuses on serving specialist entertainment, technology and leisure markets.
UBM gobbles up food show organiser Date: Monday 20 Jun 2011 LONDON (ShareCast) - UBM has acquired a 70% stake in the Catersource catering conference and exhibition and its sister show Event Solutions. The business events organiser and publisher is paying $5m for the stake, and will add the Catersource business to its UBM Live division. The acquisition is expected to meet UBM's cost of capital hurdle rate in its first full year of ownership. In 2010 Catersource generated around $4m of revenue. Founded in 1982 and based in Minneapolis, Catersource hosts an annual conference and exhibition for the USA catering and event planning industry, as well as awards events and supporting print and digital marketing platforms. The events take place annually during February and March in Las Vegas. This year's Catersource and Event Solutions shows attracted over 10,000 delegates and more than 4,500 sponsor and exhibitor companies. Catersource's founder Michael Roman and his partner Kelvin Lee, together with Catersource's 13 employees, will remain with the business following completion of the acquisition. "We see strong opportunities to grow the [Catersource] brand by leveraging our US and worldwide events infrastructure, as well as driving synergies with other UBM events," said UBM's chief executive, Simon Foster. -- jh
Thanks for the link bastimentos - interesting read.
UBM expands in South East Asia By Benjamin Chiou Date: Thursday 12 May 2011 LONDON (ShareCast) - Events and publishing group United Business Media (UBM) has acquired South East Asian exhibitions group AMB Exhibitions for an undisclosed sum. The firm – which operates in Malaysia, Vietnam and the Philippines - will add five tradeshows to UBM Asia’s portfolio, with shows serving the water, livestock, energy and mechanical/electrical industries. "The acquisition of AMB accelerates the expansion of UBM's exhibition business into South East Asia. UBM has existing interests in the core industries served by AMB's shows and complementary footprints in three of the region's fastest growing economies…as well as successful operations in Thailand and Singapore,” said UBM president and chief executive officer Jimé Essink. AMB generated revenues of $4m in 2010, two-thirds of which source from the group’s two largest shows, AsiaWater and ASEAN M&E Expo.
http://www.investegate.co.uk/Article.aspx?id=20110512070000PC11B
UBM growth driven by events Date: Tuesday 19 Apr 2011 LONDON (ShareCast) - Events and publishing group United Business Media (UBM) is on track to hit its full year targets after a first quarter that saw underlying year on year revenue growth of 7.5%. Overall, revenue was up 13.7% to £237.7m from £209.1m in the first quarter of 2010. Events revenue jumped 33.9%, or 15.9% on an underlying basis, to £84.1m from £62.8m the year before. The Targeting, Distribution & Monitoring unit, which includes PR Newswire, saw underlying revenue growth of 8.3%, while in Data Services underlying revenue growth was 14.2%. The Print division let the side down, with a 10% fall (-13.1% on an underlying basis) in revenue to £31.4m from £34.9m a year earlier. Adjusted operating profit jumped 18.6% to £44.6m from £37.6m a year earlier, while the operating profit margin increased to 18.8% from 18.0% in the first quarter of last year, driven by fat margins in the events business. The Events business saw the operating profit margin climb to 32.9% from 26.3% the year before. The margin in the Print division almost disappeared, however, sliding to 0.6% from 2.9% a year earlier, after the company disposed of some titles that enjoyed healthy margins. “We continue to expect the margins in print to improve over time, however following the disposals (which had enjoyed 8.1% margins), 2011 margins are expected to be broadly similar to 2010,” the company said. UBM's consolidated net debt stood at £459.0m as at 31 March 2011. “As we said at the full year we expect the improved quality and shape of the business to result in sustained underlying revenue growth during 2011 broadly in line with the 5.6% growth enjoyed in 2010. Overall we anticipate continued growth in profit largely driven by a full year of contribution from our acquisitions and continued momentum in our Events business tempered by targeted investment in Data Services, TD&M and Online," said David Levin, chief executive officer of UBM.
David Levin, Chief Executive Officer, UBM said: "We are pleased with the performance of the business in the first quarter where we have seen good underlying revenue growth of 7.5% and we remain on track to meet our expectations for the full year. As we said at the full year we expect the improved quality and shape of the business to result in sustained underlying revenue growth during 2011 broadly in line with the 5.6% growth enjoyed in 2010. Overall we anticipate continued growth in profit largely driven by a full year of contribution from our acquisitions and continued momentum in our Events business tempered by targeted investment in Data Services, TD&M and Online."
Positive Q1 - on track for the full year Interim Management Statement for three months ended 31 March 2011 Highlights Q1 revenue was up 13.7% to £237.7m (Q1 2010: £209.1m); underlying revenue growth of 7.5%. Adjusted operating profit up by 18.6% to £44.6m (Q1 2010: £37.6m). Operating profit margin rose to 18.8% (Q1 2010: 18.0%) driven by strong events margin. Revenue patterns and margins reflect seasonal variations and our expectations remain in line with the outlook described in our 2010 results - for segmental detail see sections below. We have continued to manage the portfolio actively during the period and have announced the acquisition of two Indian events businesses while disposing of print titles in France, the UK and the US.
http://www.investegate.co.uk/Article.aspx?id=20110419070000P0CF1
Lot of SP movement with UBM several new highs and then drop backs and then a gradual climb to another level - we may be on that now off the 575ish recent low.
http://www.investegate.co.uk/Article.aspx?id=20110404070000PDCC0
UBM transfers titles to Asian joint venture Date: Monday 04 Apr 2011 LONDON (ShareCast) - Events and publishing group United Business Media (UBM) has sold some of its Asian assets to joint venture partner, eMedia Asia, for $4m in cash. Ownership of Canon Communications Asia nd Beijing Reed Advertising Services, which together own EDN China, EDN Asia and certain associated titles, will be transferred to eMedia Asia. UBM has a 39.9% interest in eMedia Asia, with NASDAQ-listed Asian manufacturing directory owner Global Sources holding the remainder. UBM acquired the EDN titles as part of its acquisition of Canon Communications, which completed in October 2010. Publication EDN China and web site EDNChina.com both serve China's electronics design community. eMedia Asia's portfolio includes the electronic design print and online networks, EE Times China, Electronic Design China and Electronics Supply & Manufacturing China, which extends complete technical and industry information to engineers and leaders of China electronics manufacturers in print, online and via component cataloguing. With the addition of EDN China, the portfolio of eMedia Asia now reaches more than 1.2m technology decision-makers in China's electronics industry and has over 150,000 print magazine subscribers, UBM
sell off seems a bit harsh on the face of it - surely one to consider for a recovery of todays loss over next few weeks - however need to dig deeper before I commit !
UBM agrees to acquire stake in Famdent, India's largest dental exhibition and conference business Expands UBM Medica's Indian event portfolio into the dental sector United Business Media Limited today announces that it has agreed to form a joint venture with Drs Anil and Jyotika Arora to operate the Famdent dental exhibition and conference business in India. UBM will own 60% of the Famdent business, with the remainder of the business being owned by Drs Anil and Jyotika Arora. The transaction is expected to complete in the next three months. UBM is forming the joint venture on behalf of its UBM Medica business. Established 11 years ago, Famdent (www.famdent.com) launched its first event for the professional dentistry community in Mumbai in 2005, adding its Delhi event in 2009. The shows combine exhibition and conference elements, between them attracting more than 120 exhibitors, 2,200 conference delegates and 3,300 exhibition visitors. The success of Famdent's events reflects the rapid expansion of the Indian dentistry profession, estimated to be a $120 million industry and growing 15-20% annually. There are more than 100,000 qualified dentists currently practising in India, with around 13,000 new dentists entering the market each year from 191 dental colleges. India's major cities now have approximately 12,000 dental clinics. Famdent's events are supported by an eponymous clinical dental publication which has a controlled circulation of up to 12,000 copies per quarter. The publication contributed around 30% of the business' revenues in 2010. Famdent's founders, Drs Anil and Jyotika Arora, will remain with the business following the formation of the joint venture, together with a further 13 employees. For the year ended 31 March 2010, the business generated revenues of approximately £0.4 million. Its gross assets were £0.3m. UBM's investment in the joint venure is anticipated to provide a return in excess of UBM's cost of capital criterion in its first full year of operation. Henry Elkington, Chief Executive of UBM Medica said: "The creation of our Famdent joint venture brings us a leading position in India's rapidly-growing dental industry. I look forward to working with Anil and Jyotika Arora to grow the Famdent shows and to extend them to new territories across India and Asia. With our expanded platform in this space, we will also seek to broaden our offering in other Indian medical exhibition and conference markets."
http://www.investegate.co.uk/Article.aspx?id=20110301070200PFC0D