World - United Business Media (UBM) expects its decline in earnings to continue in line with market expectations.
The company claims strength in the Asian and Latin American markets, as well as a solid European performance, made up for continued weakness in the US.
Events, which account for half of the company’s earnings, have held steady on the trade side, with the larger events, including the Asian fairs Hong Kong Jewellery and Gem Fair, and Furniture China as well as the European fair CPhI Worldwide, trading in line with UBM’s expectations.
The company says the ‘softness’ in its attendee-paid events business is persisting as a result of pressure on corporate travel and conference expenditure.
In a trading statement, the company told investors that it anticipates forward bookings of exhibitor revenues for its 2010 events “will reflect the patterns noted earlier in the year”, specifically that growth at the Asian and European exhibitor-paid shows will offset softer results at UBM’s UK property-related and US attendee-led technology tradeshows.
The company’s greatest area of concern lies in its print publishing business, a sector that seems to be in perpetual decline. The company confirmed that it will see further title closures in the future. “We believe that in the medium term many (but not all) of the markets our businesses serve will continue to support a small number of print titles,” it said.
