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Trading statements

UBM on track for the FY

17 May 2017 07:41

UBM says it has performed in line with management expectations and the outlook for its full year is unchanged.

"As expected, the performance at the spring fashion events was mixed, with good growth in Sourcing and a successful launch of IFF Magic in Japan offsetting some of the challenges in the other US fashion segments," it said.

Elsewhere in the portfolio, MD&M West, Enterprise Connect and Seatrade Cruise delivered good growth, the Game Developers Conference was solid and both phases of Hotelex & FineFood in Shanghai grew strongly."

The Allworld integration was progressing well and performance was in line with the business case. FHI in Jakarta showed strong growth. The sales excellence roll-out in EMEA was nearing conclusion and the roll-out in Asia had begun.

"The pipeline of bolt-on acquisitions continues to be good. During the period we acquired a small Turkish event in the lighting segment at an attractive multiple," the company said.

"UBM's focus remains on accelerating organic growth and driving further margin improvement in line with the Events First strategy."

Story provided by StockMarketWire.com

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