Revenues and profits are in line with the trends indicated at the time of the Annual General Meeting in May.
PR Newswire and events are performing well. Online revenues are growing strongly whilst there are continuing challenges in print. We have increased our expenditure on the international expansion of our brands and on new product development in events, online and data products.
Acquisitions are performing in line with, or ahead of, our 8% post tax cost of capital.
In the year to date we have repurchased 9.56m shares for an average price of 672 pence per share, and will complete the repurchase of our remaining Convertible Bond on 28 June 2006. Following these transactions, UBM has 284.0m ordinary shares in issue.
* UBM will announce its Interim results for the period ending 30 June 2006 on 25 July 2006. This announcement is the routine update prior to entering the close period associated with the interim results
Notes to Editors
1. Interim results announcement
UBM will announce its Interim results for the period ending 30 June 2006 on 25 July 2006.
2. About United Business Media plc
United Business Media is one of the world's leading global business information companies. UBM brings together the world's buyers and sellers, helping their markets work effectively and efficiently through PR Newswire's news distribution network and CMP's portfolio of events, print and on-line publications. For more information, go to http://www.unitedbusinessmedia.com
About PR Newswire - PR Newswire is the world's leading corporate news distribution service. Headquartered in New York, PR Newswire distributes news globally on behalf of over 40,000 customers, including many of the world's top companies and agencies, helping them take the latest news to the media, the investment community, and the general public. For more information, go to http://www.prnewswire.com
About CMP - CMP's portfolio of more than 200 newspapers, magazines and directories, 200 websites and 300 events brings together buyers and sellers from a range of global sectors including technology, healthcare, the built environment, lifestyle, fashion and ingredients.
CMP operates globally through four divisions:
CMP Technology - CMP Technology is the USA's leading high tech B2B media company, providing marketing solutions for the global technology industry. Through its market-leading portfolio of trusted information brands, CMP Technology has earned the confidence of more technology professionals than any other media company. As a result, CMP Technology is the premier provider of access, insight and actionable programs designed to connect sellers and buyers in ways that yield superior return on investment. For more information, go to http://www.cmp.com
CMPMedica: CMPMedica provides information and education to healthcare professionals and patients around the world. It has a unique portfolio of professional media products including newspapers, magazines, drug directories, electronic databases, websites and events. For more information, go to http://www.cmpmedica.com
CMP Information: Operating in the UK and internationally, CMPi provides professional media solutions to around 20 industry sectors. Its products include magazines, exhibitions, conferences, awards programs, information products and websites, targeted at business professionals across a range of markets such as the built environment, travel, licensed trade, agriculture, security and ingredients. For more information, go to http://www.cmpi.biz
CMP Asia: Headquartered in Hong Kong with offices throughout the region, CMP Asia is a leader in exhibitions and online and print business information publications for Asian markets. Working with partners from around the world, CMP Asia stages a range of leading events which includes the largest international jewellery, leather and fashion, beauty and furniture trade shows in Asia, as well as the definitive health show for the Japan market. For more information, go to http://www.cmpasia.com
Disclaimer
This press release includes statements which are not historical facts and are considered "forward-looking" within the meaning of Section 27 of the Securities Act of 1933, as amended. These forward-looking statements reflect UBM's current views about future events, business and growth strategy and financial performance. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate," "on target" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from UBM's expectations. UBM expressly does not undertake any duty to update forward-looking statements. Management does not attempt to update forecasts unless conditions materially change.