UBM Plc forecasts full-year underlying revenue growth to be at or below 3 percent with fewer new launch events in the Q4 than originally planned and softer market conditions in Brazil and India.
David Levin, Chief Executive Officer, UBM commented:
“Our performance in Q3 continued the positive momentum we have seen develop
through the year. Large events, notably our shows in China, have performed
well, and we continue to expect good growth in Q4 boosted by strong biennial
revenues. We have seen softer conditions in certain markets, mainly in Brazil
and India, and have slightly reduced the number of new launch events originally
scheduled for Q4. Activity at PR Newswire has picked up in September and
October after a slower summer period. We continue to make good progress in
restructuring Marketing Services.
As a result, we now expect full year underlying revenue growth to be at or
slightly below the bottom of our guidance range of 3%-5%, but our adjusted full
year operating margin to be at the upper end of the 22-23% range. We expect
fully diluted adjusted EPS from continuing operations to be approximately
53-54p.”
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