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UBM looks to a good 2012 as earnings jump
MEDIA and communications firm UBM beat market expectations with a 13 per cent rise in full-year earnings per share to 56.8p after an “outstanding” performance from its events division in the final quarter.
The group posted adjusted pre-tax profit of £177.4m on revenues of £972.3m, an increase of nine per cent.
Analysts predicted £161.6m and £968m respectively, and 54p per share.
UBM also said that the new year had started well. It expects underlying growth of between four and five per cent in 2012.
The group raised its full-year dividend to a record 26.3p, up from 25p.
Shares closed down 2.3 per cent.