UBM - Strategic milestone Â– focused for growth05 Mar 2013
Results for the year ended 31 December 2012
- Agreed disposal of Data Services businesses (â€œDeltaâ€')
- Revenues from continuing operations rose 2.0% to Â£797.8m â€“ organic revenue growth of 6.0%
- Events organic revenue growth of 11.9% with operating profit up to Â£142.4m
- Emerging Markets revenues up 18.1% to Â£204.7m with operating profit of Â£61.7m
- Adjusted operating profit from continuing operations up 1.6% to Â£177.0m
- Fully diluted adjusted EPS for continuing operations up 3.3% to 49.8p â€“ including Delta: 59.1p
- Â£60.6m invested in acquiring eight events businesses and the remaining Canada Newswire stake
- Recommending final dividend of 20.0p (2011: 20.0p) to bring total dividend to 26.7p, up 1.5%
David Levin, UBM's Chief Executive Officer, commented:
â€œ2012 has been another good year for UBM both operationally and strategically.Â We grew overall revenues and profits, with robust underlying revenue growth in our key Events and PR Newswire businesses.Â Events now account for three quarters of the Group's continuing operating profit.Â We have continued to focus on large tradeshows; in 2012, 100 annual events generated revenues of more than Â£1m â€“ accounting for 85% of annual event revenues.â€'
â€œThe sale of the Delta businesses is a significant strategic step which simplifies UBM's business, improves the quality of our earnings, enhances underlying growth rates and removes the challenge of transitioning the Delta businesses to the digital environment.Â We can now focus on further developing UBM as a fast-growing and increasingly profitable events-led marketing services and communications business.â€'