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UBM 30 Jul 2010

Solid first half performance; on track for full year

Results for the Six Months Ended 30 June 2010


Key Results H1 2010  H1 2009  Change 
Revenue  £434.3m    £435.0m  (0.2)%  
Adjusted1 operating profit  £83.2m  £78.3m  6.3% 
Adjusted EPS  24.9p    26.7p   (6.7)% 
Dividend per share  6.0p  6.0p    0.0% 
Statutory operating profit   £67.0m  £55.2m  21.4% 
Statutory profit after tax   £49.6m  £51.3m (3.3)% 
Statutory EPS  18.7p  19.9p    (6.0)%  
Statutory EPS (diluted)   18.6p  19.6p (5.1)% 


Financial Highlights

-       Solid first half performance - adjusted operating profit up 6.3% on revenues unchanged year on year

-       EBITDA up 7.3% to £91.1m (H1 2009 - £84.9m)

-     Balance sheet remains strong - debt / LTM EBITDA 1.6 times (H1 2009 - 1.3 times); cash & undrawn facilities of £395.0m (H1 2009 - £267.6m)

-     Strong operating cash flow generation in H1 - £76.9m (H1 2009 - £74.5m)

-       12 businesses acquired for £43.5m (H1 2009 - 0 acquisitions) - £28.2m invested in tradeshows, £27.2m in emerging markets

-     Interim dividend maintained at 6.0p

For more information, please find the full results release and acquisition announcement attached.

UBM 2010 Interims results

UBM acquires International Children-Baby-Maternity Products Expo and related businesses for up to $16.1 million