LONDON, May 6 /PRNewswire-FirstCall/ --
Speaking at the United Business Media annual general meeting today, the
Chairman, Geoff Unwin said:
"2004 has started well. All of our businesses are performing ahead of
last year, consistent with the positive trends of the second half of 2003. We
expect to achieve our medium term margin target of 15 per cent this year.
"In the US CMP Media's underlying revenue is 3 per cent ahead, with
yields strengthening and a strong performance in online and events.
"PR Newswire's year to date message volumes are 7 per cent up on last
year with improved yields.
"This time last year I reported that United was experiencing the most
stable environment for over two years. Since then our businesses,
particularly those in the US, have all made good progress - with the
combination of revenue growth and a restructured cost base, boosting profits
and margin. The profit contribution from acquisitions made over the last year
is in line with target.
"All in all a positive and promising performance."
Notes to Editors:
United Business Media plc (http://www.unitedbusinessmedia.com) is a
leading provider of business-to-business media solutions. Its products and
services help companies around the world to meet their market information
needs. UBM's businesses include NOP World, one of the largest market research
groups globally and PR Newswire, the world's leading corporate news
distribution service. Within the professional media division the companies
are CMP Media, CMP Asia, CMPi and UAP - this division includes B2B media and
exhibitions in high-tech, healthcare, entertainment and jewellery and fashion
in the US, UK, Asia and Europe.
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.
SOURCE United Business Media Plc
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