London, 28th February: This week, UBM Plc announced its annual results for the year ended 31st December 2017. The company reported revenues of £1.0 billion (US$1.4 billion), an increase of 16% year-on-year. Adjusted operating profits increased by 25% to £294 million (US$397 million).
Revenues from annual events were £781 million (US$1.05 billion), representing an adjusted underlying growth of 5.3%. While biennial events in 2017 generated revenues of £86 million (US$116 million), up 3.7% compared to the biennial events in 2015. Management attributed the growth in the annual events to strong growth in Asia. Growth from launches and at Allworld events was also cited. The growth at biennial events in part as due to the inclusion of revenue from Allworld’s biennial events, HOFEX and Food & Hotel Indonesia.
Tim Cobbold, CEO of UBM plc stated, “Over the last three years, Events First has focused UBM on the attractive events market and the team has built a high-quality events business with geographic breadth and strong brands, serving a wide range of industry sectors. In 2017 we delivered a strong financial performance with Annual Events adjusted underlying revenue growth accelerating to 5.3%, further margin expansion and strong cashflow. We saw excellent growth in Asia in particular and growth in all our major verticals bar Fashion.”
Source: UBM press release