Extract from 2016 Results announcement:
In December, UBM sold Ecobuild to its management for a nominal sum, incurring a total loss on disposal of £35.1m principally relating to the write-off of goodwill.
Refocusing on events is complemented by the disposal and rationalisation of smaller, lower-margin, lower-growth events and of OMS activities that are not well aligned to events, in line with our strategy. In 2016, 27 events and eight OMS properties, with revenues in 2015 of £11.7m and £3.8m respectively, were discontinued. We disposed of the US Electronics and eMedia business for £19.2m, the remaining investment in the Light Reading business for £16.1m, and some other small events and media properties.
For the full press release click here
| Key financial information | |||||||
| Revenue | Adjusted operating profit* | ||||||
| 2016 | Underlying* change % | Adjusted underlying* | 2016 | Margin | Margin | ||
| £m | change % | £m | % | change %pt | |||
| Continuing operations | |||||||
| Annual | 683.5 | 1.00% | 3.10% | 220.8 | 32.30% | +0.9%pts | |
| – of which majors | 589.3 | 3.90% | 3.90% | ||||
| Biennial | 28.1 | 19.5%** | 19.5%** | 8.3 | 29.30% | ||
| Events | 711.6 | 1.00% | 3.10% | 229.1 | 32.20% | +0.1%pts | |
| Online | 88.2 | -4.20% | -2.00% | 13.4 | 15.20% | +5.6%pts | |
| 63.2 | -6.40% | -2.60% | 10.7 | 16.90% | +0.0%pts | ||
| OMS | 151.4 | -5.10% | -2.30% | 24.1 | 16.00% | +3.3%pts | |
| Corporate costs | -18.4 | ||||||
| Group | 863 | -0.10% | 2.10% | 234.8 | 27.20% | +1.6%pts | |