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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

Promethean World revenue slumps Date: Tuesday 19 Apr 2011 LONDON (ShareCast) - Interactive learning technology specialist Promethean World revealed a 22% drop in first quarter revenue as US government spending cuts take hold. The group said it expects market conditions to remain tough in 2011 due to public sector budgetary uncertainties and constraints. First quarter group revenues fell to £41.9m from £53.9m the same time a year earlier as government spending cuts hurts demand for items such as interactive whiteboards in US schools. First quarter interactive display system revenues fell 20% to £36.6m and learner response system revenues dived 35% to £5.3m compared to the first quarter in 2010. In volume terms, Promethean sold 32,000 interactive display systems and 172,000 learner response system handsets in the first quarter of this year, compared to 41,000 and 268,000 respectively in the same period last year. Nevertheless the group said it expects long-term demand drivers to remain strong.

http://www.investegate.co.uk/Article.aspx?id=20110419085000H7581

SABMiller sees volume growth outside North America Date: Tuesday 19 Apr 2011 LONDON (ShareCast) - Brewing giant SABMiller saw volume growth in all markets but North America in the quarter to 31March and said its overall financial performance was in line with expectations. MillerCoors, SABMiller’s US operation, saw a 1.4% fall in sales to retailers in the fourth quarter and a 2.5% fall in sales to wholesalers. The declines were slightly easier than those for the full year. In Latin America, volumes were up by 1% in the fourth quarter. Peru was a strong performer over the full year, seeing volume growth of 10%, while Colombia saw a 6% decline due to an emergency tax. The Peroni and Castle brewer said fourth quarter volumes in Europe were up by 2% against a weak period the previous year, though full year lager volumes declined by 3%. Poland and the Czech Republic suffered declines, but Russia was helped by gradual economic recovery towards the end of the year. A strong final quarter helped lift Africa full-year volumes by 13%, while South Africa, which is considered separately from the rest of the continent, saw growth of 2% over the full year. Lager volumes in Asia grew by 8% on an organic basis in the fourth quarter and by 10% for the year. SABMiller reported slightly lower raw material costs for the full year though they increased “moderately” in the second half.

http://www.investegate.co.uk/Article.aspx?id=201104190700141405F

Burberry expects high-end profits Date: Tuesday 19 Apr 2011 LONDON (ShareCast) - Luxury fashion label Burberry expects profits for the financial year to March 31 to be at the top end of expectations after a strong performance in the final few months. Total revenues rose by 30% from the previous year on an underlying basis to £860m. In the retail division, where underlying sales were up by 42% to £596m, Burberry said its London stores “outperformed.” Wholesale revenue was up by 14% on an underlying basis to £214m. Chief executive Angela Ahrendts said the company saw good early progress in China. “While the luxury industry faces global challenges in the year ahead, we remain confident in our team's ability to outperform, underpinned by the consistent execution of our key strategies,” she said.

Reed Elsevier sees growth across the board Date: Tuesday 19 Apr 2011 LONDON (ShareCast) - Business and academic publisher Reed Elsevier saw underlying revenue growth in each of its business groups once the effects of biennial events in its exhibitions group are taken out of the equation. The company is sticking with its prognosis for 2011, disclosed in February of this year, of a gradual recovery and a continued improvement in performance. In the Elsevier business, growth rates in the first quarter were much the same as they had been for most of 2010. Growth in Health Sciences was held back by weakness in pharma promotion, European markets and cut backs in student enrolment at US career schools. Overall, another year of modest revenue growth is expected in Elsevier, the company said. In LexisNexis Risk Solutions saw “good growth” in the first quarter driven by sales of data and analytics in the insurance business, although the insurance software licence business had a slow start. LexisNexis Legal & Professional's business returned to underlying revenue growth on the back of strong sales growth in the US and, outside the US, healthy demand for online services and solutions. Revenue recovery is expected to be gradual, with the adjusted operating margin broadly flat in 2011. Reed Business Information also returned to underlying revenue growth. The data services and online marketing solutions businesses grew particularly well. While leading brands have stabilised, other business magazines and services continue to be affected by difficult print advertising markets, particularly in continental Europe. Reed Exhibitions' annual shows held in the first quarter averaged mid to high single digit revenue growth rates, including strong double digit growth in emerging markets. Reed Elsevier’s financial position remains strong with good cash generation, the statement concluded.

Financial position: Reed Elsevier’s financial position remains strong with good cash generation.

http://www.investegate.co.uk/Article.aspx?id=20110419070000Z0359

Redrow to sell Scottish business Date: Tuesday 19 Apr 2011 LONDON (ShareCast) - Housebuilder Redrow said it expects full year completions to be marginally ahead of last year as it announced it will sell its loss making Scottish operations. "The Board has concluded that although we have had a presence in Scotland for a number of years, the operation there is not of sufficient scale to generate acceptable returns and its preferred option is to sell that business," it said. Redrow said it would instead move focus to London and the South East. The housebuilder, which kicks off a string of updates from the sector, said house prices have been stable for well over a year now; however its average selling price has seen a healthy growth, predominantly due to the shift in product to the New Heritage Collection. "Although the economic outlook remains uncertain, we have been encouraged by the performance of the group's New Heritage Collection. Sales per outlet are at the top end of industry comparables and reservations since the beginning of January are encouragingly ahead of last year," the group said in a company statement. "We expect this year's results to show further significant progress." The average number of sales outlets has been stable at 79 during the period compared to 72 in 2010. Redrow expects this to rise to 85 by the end of June, slightly down on previous guidance due to a number of planning delays. Net debt has risen in the period to around £80m from £52m the year before due to its ongoing investment in land. The group said debt levels are likely to rise further over the coming months as its land bank increases. In the last financial year Redrow's Scottish business generated 185 legal completions, had a turnover of £31m and made a small loss. --- CJ

Angela Ahrendts, Chief Executive Officer, commented: "Burberry had a strong finish to the year, driven by our design, digital marketing and retail initiatives, as well as good early progress in China. As a result, we expect adjusted profit before tax for the financial year 2010/11 to be around the top end of market expectations. While the luxury industry faces global challenges in the year ahead, we remain confident in our team's ability to outperform, underpinned by the consistent execution of our key strategies."

· Further strategic and operational progress - Retail nearly 70% of total revenue - Monthly flow and replenishment drove growth - Further development of retail theatre and global digital commerce platform - Saudi Arabia joint venture being formed to directly operate five stores - Spain restructuring complete · Looking forward, Burberry is planning - 12-13% increase in average selling space for FY 2011/12 excluding the acquired stores in China; building presence in Latin America and Middle East - Mid teens % growth in underlying wholesale revenue for H1 2011 excluding China - Mid single-digit % growth in underlying licensing revenue for FY 2011/12

Burberry Group plc, the global luxury company, today reports on trading for the six months to 31 March 2011. The financial information contained herein is unaudited. Highlights* · Total revenue of £860m, up 30% underlying · Retail revenue of £596m, up 42% underlying - 13% comparable store growth - Double-digit mainline growth in all regions - Prorsum and Burberry London outperformed - Around 30% comp growth in acquired stores in China · Wholesale revenue of £214m, up 14% underlying - Up 29% excluding China, ahead of high teens guidance - Better than expected in-season orders - Menswear grew strongly - Americas and Asia Pacific outperformed · Licensing revenue of £50m, down 5% underlying, in line with guidanc

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4182979

Big increase in debt but appears to be the result of land purchases - as long as its kept manageable

Strategy It has been the Group's strategy over the last 12 months to increase our presence in London and the South East. This policy will in time lead to a further increase in the Group's average selling price. This strategy, however, has led us to review our investment in other areas of the business. The Board has concluded that although we have had a presence in Scotland for a number of years, the operation there is not of sufficient scale to generate acceptable returns and its preferred option is to sell that business. An Information Memorandum will be issued shortly to interested parties and we would hope to conclude a sale in the coming months. Outlook Although the economic outlook remains uncertain, we have been encouraged by the performance of the Group's New Heritage Collection. Sales per outlet are at the top end of industry comparables and reservations since the beginning of January are encouragingly ahead of last year. We expect this year's results to show further significant progress.

19 April 2011 INTERIM MANAGEMENT STATEMENT Redrow plc is releasing the following Interim Management Statement regarding trading for the period from 1 January 2011 to 17 April 2011. Sales activity since the start of the calendar year has been encouraging, with sales per outlet averaging 0.70 sales per week (2010: 0.65 per week) and cancellation rates remained consistent at 17%. Net private reservations for the financial year to date are up 2% to 1,819 (2010: 1,778). Our private order book at 17 April stood at £139m, 6% up on this time last year (2010: £131m). As a consequence, despite a slow first half, we expect legal completions for the full year to be marginally ahead of last year. House prices have been stable for well over a year now; however our average selling price has seen a healthy growth, predominantly due to the shift in product to the New Heritage Collection. The average number of sales outlets has been stable at 79 during the period (2010: 72). We expect this to rise to 85 by the end of June, slightly down on previous guidance due to a number of planning delays. Net debt has risen in the period to c£80m (2010: £52.0m) due to our ongoing investment in land. It is likely to rise further over the coming months as our land bank increases.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4182929