United Business Media release preliminary results

Business publisher and events organsiser United Businee Media reported a 7.2% increase in pre-tax profit in its preliminary results that were released today.

To the end of December 2005, UBM's revenues increased by 23% from £557.3m up to £675.8m.

David Levin, chief executive of United Business Media plc said the company intended to accelerate the rate of acquisitions from the £105m achieved in 2005 towards the £150m to £250m level annually.

He added: ""2006 has begun with a solid performance. PR Newswire is continuing to perform well. Our events business remains strong worldwide and forward bookings are ahead of the prior year. Our performance in print is mixed, for example a good performance in France being offset by weaker revenue in the UK. Whilst our online revenues are growing rapidly (albeit from a small base) and we plan to accelerate that growth through further investment, we will focus on improving the profitability of our online offerings."

 

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