By Salamander Davoudi // published March 3, 2009
United Business Media’s (UBM) strategic is shifting from the traditional site of printing media to the exhibitions and data services site. This has helped UBM increase its dividend of higher revenues; as PRNewswire said sales had risen 10 percent to 887million pounds. Underlying operating profits were flat however, and stayed at 146.7million pounds. Chief executive of UBM, David Levin, said that the company is not immune to the acute situation, though is stabilized as much as possible. They are planning on increasing its dividend by another 10 percent to 23.8pounds and recorded a satisfactory trading result between November and January. To save money travel budgets have been cut majorly, though statistics show that bookings to leading and major events have increased by a whole 5 percent. This might be because firms are more likely to attend leading events to be current status. UBM’s printed magazines at the operating profit fell by 15 percent to 23.9 million pounds. This is said to be a consequence of weak advertising on the market. Pre-tax profits fell from 129.5million pounds to 101.3 million pounds alone from last year on. Many shares have closed up, and the firm is struggling with keeping up on the market.
http://www.ft.com/cms/s/0/e94fdf5c-081b-11de-8a33-0000779fd2ac.html
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