UK - UBM is expecting improved results in the second half of the year, despite a profit drop of more than 13 per cent and 350 job losses by the end of Q2.
In an interim results statement, the global exhibitions company called its performance in the first half of 2009 'satisfactory', and UBM CEO David Levin points to a year-on-year increase in forward bookings of almost six per cent as evidence the next six months will yield improved results.
“UBM’s performance in the first half of 2009 was satisfactory in the context of a tough worldwide economic environment and extremely challenging conditions in a number of our markets,” says Levin, adding that attendee levels dropped by more than a fifth on the first half of last year.
“Despite the challenging economic circumstances, we continue to pursue our established strategy. We remain focused on growing our portfolio of live events, data and online businesses, particularly in fast-growing and emerging markets. Forward bookings for our major events for the second half of the year are running 5.9 per cent ahead.”
The fast-growing markets referred to by Levin, namely China, Brazil and India, brought in a combined revenue of £24 million in the first half of the year, up £7.5 million on last year. New launches in these regions included Health Ingredients Summit South America in June, Informex India in March, and the Gem and Jewellery India International Exhibition in February.
The company currently employs 435 staff in mainland China, 255 in Hong Kong, 105 in Brazil and 216 in India.
