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UBM upbeat as large event growth offsets blips

Wed, 18th May 2016 09:51

(ShareCast News) - UBM said it was on track to hit full year targets despite some weakness in smaller shows.The events organiser, which hopes to conclude the sale of its PR Newswire and Agility businesses in coming weeks, said performance since the start of the year had been in line with management expectations.Larger events continued to drive performance, most notably Game Developers Conference, MAGICVegas, Enterprise Connect, MD&M West and Hotelex/FineFoods, UBM said.Other marketing services performed in line with expectations, and the Advanstar business continues to perform ahead of its acquisition case, while integration of the recent Business Journals acquisition is underway.On the downside, Ecobuild revenue declined owing to the previously flagged challenges facing the UK solar industry, which has been hit by the withdrawal of government subsidies for the solar industry.Also some smaller shows, particularly in the jewellery sector, "are seeing some weakness".Also during the period, £17.5m was paid to Axio Data Group to settle a warranty claim from the sale of the Delta businesses in 2013.PR Newswire continues to perform in line with expectations, with the sale to Cision remaining subject to Hart-Scott-Rodino antitrust clearance in the US and other customary closing conditions.Analysts at Canaccord felt the trading update was broadly reassuring."There was little to no detail, but this was a reassuring update. UBM's major China shows in H2 are clearly seeing bookings on track with budgets, despite the softer macro-economic backdrop."And the outperformance of Advanstar should off-set some pressure from its smaller events. Overall, we see nothing here to warrant any review of forecasts."
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15 Jun 2018 16:43

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31 May 2018 17:17

LONDON MARKET CLOSE: Stocks Close Mixed Amid US Metal Tariffs

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31 May 2018 12:02

LONDON MARKET MIDDAY: Investors Welcome Political Progress In Italy

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31 May 2018 10:54

WINNERS & LOSERS SUMMARY: FirstGroup Swings To Loss, CEO Departs

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31 May 2018 08:49

LONDON MARKET OPEN: FirstGroup CEO Departs After Swinging To Loss

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31 May 2018 07:44

LONDON MARKET PRE-OPEN: FirstGroup CEO Departs Amid Disappointing Year

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15 May 2018 09:28

UBM 2018 Trading In Line On Events Progress As Informa Buyout Advances

LONDON (Alliance News) - UBM PLC said Tuesday it continues to perform in line with its expectations in 2018 to date after experiencing "good momentum" as its events-focused strategy to a

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8 May 2018 16:05

UK Shareholder Meetings Calendar - Next 7 Days

Wednesday 9 MayStandard CharteredVirgin MoneyRentokil InitialPatagonia & (re 10

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24 Apr 2018 14:09

ITE Sells Malaysian Exhibitions Unit For GBP4.2 Million To UBM

LONDON (Alliance News) - ITE Group PLC said Tuesday it sold Malaysian subsidiary and Metaltech-owner TradeLink ITE Sdn Bhd for GBP4.2 million to UBMMG Holdings Sdn Bhd, a subsidiary of UBM firm or

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29 Mar 2018 16:52

UPDATE 1-Britain shrugs off Brexit to enjoy boom in dealmaking

By Ben Martin LONDON, March 29 (Reuters) - British companies have been swept up in a global boom in dealmaking that has seen the amount of M&A involving firms hit a

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29 Mar 2018 15:12

Britain shrugs off Brexit to enjoy boom in dealmaking

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23 Mar 2018 10:23

Engineer Babcock Appoints Two New Non-Executive Directors

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11 Jan 2017 13:32

Wednesday broker round-up

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11 Jan 2017 09:36

BROKER RATINGS SUMMARY: Morgan Stanley Upgrades BT To Overweight

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14 Dec 2016 09:32

BROKER RATINGS SUMMARY: Deutsche Bank Cuts Centrica To Sell From Hold

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