company UBM’s trading update, 24 April, indicates its largest events
continue to drive performance.
The figures for
the three months to 31 March 2015 (Q1) show a performance “in line with the
Board’s expectations,” the company said.
The Q1 trading statement
showed a strong results from Game Developer Conference, solid growth at
Seatrade Cruise Global and Enterprise Connect, and Ecobuild revenue up over the
UBM Advanstar’s MAGIC
Marketplace events, which ran in February, performed well, the company said.
The integration of
Advanstar is progressing following the bringing together of UBM’s and
Advanstar’s US medical, dental, veterinary, nutrition and pharma brands into a
single business unit, UBM Life Sciences.
The implementation of the
‘Events First’ strategy has meant a rationalisation of some smaller, less
profitable and loss-making events. Some non-core technology OMS activities in
the US and India have been discontinued.
On 22 April 2015 UBM
signed a new £400m five-year syndicated Revolving Credit Facility (‘RCF’) with
our core relationship banks, replacing the existing £300m RCF and paying down
the US$100m Bridge Facility put in place for the acquisition of Advanstar.
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Email: Paul Colston