UBM, RBI Report Growth in the First Quarter
UBM sees 7.5 percent growth in underlying revenue.
United Business Media (UBM) shared its first quarter report today, with a 13.7 percent increase in total revenue, rising from 2010 first quarterâs $338.74 million to first quarter 2011âs $385.07 million. There was also a reported underlying revenue growth of 7.5 percent.
David Levin, CEO of UBM, says, âOverall we anticipate continued growth in profit largely driven by a full year of contribution from our acquisitions and continued momentum in our Events business tempted by targeted investment in Data Services, TD&M and Online.â
In online/marketing services revenue, UBM saw an uptick of 42.8 percent from first quarter 2010âs $22.36 million to 2011 first quarterâs $31.91 percent. On the flip side, print/magazine revenue fell ten percent from 2010âs first quarter to the first period of 2011, dropping from $56.54 million to $50.87 million. As of March 31, 2011, UBM had 114 titles in its print magazine portfolio.
UBM saw growth in its events sector, increasing 33.9 percent from first quarter 2010âs $101.74 million to 2011 first quarterâs $136.24.
In September 2010, UBM acquired Canon Communications for $287 million. Canonâs portfolio included 24 industry magazines and over 100 e-newsletters at time of purchase.
UBMâs operating profits for online marketing services dropped six percent, from first quarter 2010âs $21.55 million to 2011 first quarterâs $20.25 million. Print magazine operating profit fell 80 percent from 2010 first periodâs $1.62 million to $324,000.
Reed Business Information Shares Interim Statement
Reed Business Information (RBI) also released their interim management statement today. According to the statement, âUnderlying revenue returned to growth in the first quarter, reflecting improvement in RBIâs markets and the benefit of the portfolio actions taken.â In April 2010, RBI closed 23 magazine titles.
RBI also shared that, âThe data services and online marketing solutions businesses grew particularly well.â
The statement says, âWhile leading brands have stabilized, other business magazines and services continue to be impacted by difficult print advertising markets, particularly in continental Europe.â
RBI dropped slightly in revenue from 2009 to 2010, decreasing from $9.84 billion to $9.81 billion.
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