Revenue Up 27 Percent for UBM events
October 24, 2011
B2B media company UBM, released its interim results for the nine months ended Sept. 30.
The company posted revenues of £706 million in the first three quarters, a year-on-year increase of 9.8 percent. Revenues from events during the period were £279 million, up 26.6 percent from 2010. Adjusted operating profits of events were £86 million this year compared with £60 million in the first nine months of 2010.
UBM reported that major events in Asia, which includes the September Hong Kong Jewellery & Gem Fair and Furniture China Fair, saw strong double-digit growth. Forward bookings for the company’s top 20 annual events in 2010 running in the next 12 months are also up 16 percent, compared with the previous year.
David Levin, chief executive officer of UBM, said, “Our Events continue to demonstrate excellent growth and strong margins, particularly in China and across the emerging markets, while our other businesses performed as anticipated with the usual Q3 seasonal effects on revenue and margins. Moreover, given that events now comprise a significantly larger part of our business, that 22 percent of our revenues are generated in emerging markets and that we have substantially lower exposure to print, we believe UBM is a stronger, more resilient business than in previous years.”
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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