Business media company United Business Media (Jersey) Ltd. (UBM.L) Friday said it expects full year earnings to be in line with market expectations. The company also added that trading has been in line with its expectations, since it reported interim results in July.
United Business Media said, in aggregate, its events portfolio that contributes around half of its earnings is performing well. The company's largest exhibitor-paid annual tradeshows taking place during the second half in Asia have traded in line or somewhat ahead of previously indicated expectations, and it also anticipates strong performances from its forthcoming major biennial tradeshows Food Ingredients Europe and Marintec China.
According to United Business Media, trading across its data, services and online businesses has been mixed. After experiencing poor trading conditions during the first half of the year, the company has seen some improvement in its intellectual property service products for the semiconductor industry. Meanwhile, online advertising revenues have yet to show any improvement in the aggregate.
The company added that the combination of difficult economic conditions and long term structural decline continues to reduce print revenues.
Overall, trading in targeting, distribution & monitoring businesses remains soft, and the company expects operating profit margins to remain consistent with the first half results. As earlier announced, the businesses have been affected by poor economic conditions, lower aggregate levels of corporate and market activity and the associated general reduction in marketing and communications spend, the company said.
Foreign exchange has a significant impact on the company's results. United Business Media expects that for the full year about 60% of revenues and operating profits will be denominated in US dollars, and that around 20% of revenue and 25% of operating profits will be denominated in Euros. The average exchange rates for the full year 2009, assuming no change to current rates over the remainder of the year is expected to be £1: $1.60 and £1: Euro 1.10.
For 2010, the company estimates that a one cent change in the US dollar exchange rate would change revenues by £2.9 million to £3.1 million and operating profits by £500 thousand to £600 thousand. A one cent change in the Euro exchange rate would change revenues by £1.2 million to £1.4 million and operating profits by £300 thousand to £400 thousand.
United Business Media is scheduled to announce preliminary results for the twelve months to December 31, 2009 on March 5.
UBM is currently trading at 479.30 pence per share, up 0.71%, on the London Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.