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UBM first quarter trading in line with expectations

Sharecast

LONDON (ShareCast) - Marketing and communication services provider UBM (LSE: UBM.L - news) said trading for the full-year was in line with expectations, after a solid performance in the first quarter. The FTSE 250 group said growth in its event division was in line with forecast in the first three months of 2015, thanks to strong performance from its Game Developer Conference and solid growth at Seatrade Cruise Global and Enterprise Connect.

The London-listed company added that the revenue from its eco-build sector rose from the corresponding period in 2014, Advanstar's MAGIC Marketplace events performed in line with expectations.

The PR newswire and the marketing services divisions "performed satisfactorily", the group said in a trading update, adding that the integration of Advanstar was progressing well with synergies in line with expectations.

In the first quarter the company discontinued various non-core technologies activities in the US and India, which resulted in good progress in a number of "operational excellence initiatives", UBM said.

UBM shares were down 0.37% to 540.50p at 09:14 on Friday.