United Business Media Profits Rise; More Emerging Markets Acquisitions
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United Business Media (LSE: UBM), the owner of PR Newswire, turned in decent results for the first half of 2010 and is maintaining a cautious yet stable outlook for the second part of the year. Meanwhile its print properties turned in a mixed performance, while its online holdings remained solid. Separately, a day after it announced the acquisition of Hong Kong-based webcasting firm Corporate360, the UK-based company bought another Asia entity, the Shanghai International Children-Baby-Maternity Products Expo for up to $16.1 million. More details about that purchase in this release.
The company is expected to continue its acquisition streak in Asian and other emerging markets. As for h109, here are some other highlights:
—Data, Services & Online: Revenues were up 2.3 percent, while adjusted operating profit gained 23.8 percent. The segment’s online revenues specifically grew 15.3 percent thanks to strong ad spending.
—Print: The company closed four titles in the first half of the year, so, not surprisingly, revenues were down 13.9 percent, but adjusted operating profit up 12.1 percent thanks to cost savings.
| EPS* | Rev. vs Qh109 | Net Inc. vs Qh109 | ||
|---|---|---|---|---|
| United Business Media | Release | N/A |
0.2%
|
6%
|
Beat
Met
Missed
Posted In: Media & Publishing, Money, Earnings
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