USA - Global marketing and research group The Nielsen Company reported its overall revenue in this first quarter was up seven per cent on 2010 to $1.3bn.
NNG’s exposition division attributed $56m to the final total that, although only a small piece of the total revenue, represented 14 per cent growth. It organises events for sectors like interior design, jewellery and health. According to Nielsen CEO David Calhoun, the results reflected "a fully invested company”.
"In other words, the best that we're making around the world on expanded footprints we continue to make on a very robust pace," he said.
According to CFO Brian West, the revenue and profitability increases were attributed partly to Nielsen’s key property performances and acquisitions.
Nielsen's debut on the stock market this January also helped releasepressure on financial performance. "It was a big event for us," said Calhoun. "It helped unleash a natural cashflow. We accomplished all of our objectives and then some with the initial public offering [IPO]."
Proceeds from the IPO were used to retire $1.75bn of debt, with net debt as of the end of March standing at $6.5bn, with a net debt leverage ratio of 4.5x.
Got a news story? Email: exhibitionworld@mashmedia.net
