B2B magazines publisher CMP Information has increased its revenues by almost 5 per cent in the last year, but profits at the group remain stable.
Announcing its end of year results for 2006 this morning, CMPi parent company United Business Media (UBM) said increased investment in online products and exhibitions had stunted CMPi's ability to up its profits.
The group, which publishes trade titles including The Publican and Building, saw revenues rise by £12m last year from £157.7m to £169.8m, with profits steady at £40.8m.
UBM chief executive David Levin said he was upbeat about the prospects for 2007, and that forward bookings for conferences arranged by CMP Information titles were up more than 10 per cent on last year.
The largest contribution to UBM's profit came from the PR Newswire, which saw its profit increase by 50 per cent from £51.8m to £77.4m. In today's update to the City, UBM said it expected to earn "more than 85 per cent of [its] expected 2007 from the PR Newswire, exhibitions, events and directories".
Revenue at UBM as a whole — which has operations across the US, Europe and Asia — was up 16.7 per cent from £633.7m to £739.1m.
Pre-tax profits at the group rose from £83.9m to £118.4m.