LONDON, May 15 /PRNewswire-FirstCall/ -- Speaking at the United Business
Media annual general meeting today, the Chairman, Geoff Unwin said:
"United has made a solid start to the year.
"Trading in the UK has generally been good with increased profit and
improving margins. UAP and CMP Information are making further margin gains
and NOP UK has achieved a 3 per cent growth in order intake.
"In the US, CMP Media and PR Newswire have broadly held the volume levels
of the second half of last year, maintained a strong position on yields and
continued to build market share. Following the substantial and ongoing
restructuring of the cost base, margins at PR Newswire are improving on the
second half of 2002 and CMP Media is on course to resume profitability this
year. After a slow start to the year, NOP's order intake in the US is picking
up, but in the aggregate is a little behind last year's total. Bookings at
NOP's US syndicated auto and media businesses are growing steadily, and the
benefits of restructuring should ensure a return to full year profitability in
healthcare and custom research.
"The promise of another good trading year at CMP Asia has been
overshadowed by the SARS outbreak. The outbreak has brought considerable
uncertainty to the near term trading prospects in Hong Kong and we estimate
that earnings of up to 8 million pounds sterling could be at risk in the first
half of the year. The company is working with its insurers to mitigate this
shortfall. We are confident that the long term strength and growth prospects
of this business will be maintained.
"With the exception of the current SARS effects our businesses are
experiencing a more stable environment than in the last two tumultuous years."
Notes:
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; PR Newswire, the world's leading corporate news distribution
service and CMP, the B2B media and exhibition group operating in focused
markets sectors such as hi-tech, healthcare, property, entertainment jewellery
& 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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Related links:
http://www.unitedbusinessmedia.com
CONTACT:
Michael Waring of United Business Media,
+44-20-7921-5031; Colin Browne of The Maitland Consultancy,
+44-20-7379-5151; or Nick Molden of United Business Media,
+44-20-7579-5097
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