Friday May 9, 07:49 AM
UBM trading "modestly ahead" of expectations
LONDON (ShareCast) - Publisher United Business Media (LSE: UBM.L - news) said the positive start to the year has continued with overall
trading performance "modestly ahead" of expectations."Despite macro-economic uncertainty and volatile conditions in some of our markets, our strong brands, coupled with timely and effective management actions, are generating a solid trading performance and we remain confident of the prospects for the full year," it added. UBM said its recently announced plan to create a new holding company, with its tax residence in Ireland, will have a positive effect on EPS in the medium term. The group said its events portfolio is showing good momentum with its data businesses also performing well. The restructuring of CMPMedica is progressing in line with its plan, it said. "We are successfully addressing three key areas to drive an improved performance in 2008: the continuing growth of our leading global events and data businesses, the reorganisation of UBM's technology business and the turnaround of CMPMedica," said the group.
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