View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Publishers
  2. B2B
August 1, 2013updated 02 Aug 2013 4:38pm

UBM pre-tax profit slides 31.3 per cent as restructuring continues to take toll

By Gavriel Hollander

B2B publisher UBM suffered a 31.3 per cent fall in its pre-tax profit for the first half of 2012.

The publisher made a profit of £40.8m before tax in the six months to June, according to a statement to the stock market, down from £59.4 million last year.

Some of the worsening performance can be attributed to £6.7m in “exceptional costs”, including £5.4m on restructuring if its UBM Tech business.

The group brought in £391.1m in revenue from continuing operations, 1.5 per cent down from last year’s figure of £397.2m.

UBM chief executive David Levin said that a “tough first quarter” was partly offset by improving results in the second quarter, largely on the back of increased revenue from the group’s China-based events.

“With continued strong forward booking trends for our H2 Emerging Markets events we feel confident about the second half,” said Levin.

He added: “We're already seeing improved profitability, albeit on lower revenues. We expect this restructuring programme to be substantially complete by the end of the year.”
Restructuring at the company include the sale of its data services business, Delta, in February 2013.
In June, UBM launched a strategic review involving some of its most famous titles, with the option of a sale still thought to be on the table.
The review involves Property Week, Building Design and Travel Trade Gazette. 

Content from our partners
Publishing on the open web is broken, how generative AI could help fix it
Impress: Regulation, arbitration and complaints resolution
Papermule: Workflow automation for publishers

Topics in this article :

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network