UBM Revenues Up 9 Percent, Profits up 11 Percent
August 1, 2011
U.K.-based B2B media group, UBM plc, released its results for the six months ended June 30, showing headline revenue growth of 9.1 percent, from £434 million last year to £474 million. Adjusted group operating profit grew 10.5 percent from £83 million to £92 million.
Revenues from UBM’s exhibition business grew 27.1 percent in the first half to £177 million and adjusted operating profit was up 41.8 percent to £58 million – which the company attributed in part to the acquisition of Canon events last year. Underlying annual revenues are up 13.6 percent in emerging markets, with particular success in India and China, the latter posting a 17.4 percent increase in underlying revenues. Emerging markets in total accounted for 30.2 percent of annual events revenues in the first half of 2011.
CEO of UBM, David Levin, said, “We’re pleased with the 6.4 percent underlying revenue growth, and particularly the 16 percent headline growth in Emerging Markets where we now generate almost 20 percent of our total operating profit. These positive revenue trends have driven healthy 10.5 percent growth in adjusted operating profit, an increase in our Group margin to 19.4 percent and were accompanied by strong cash generation.”
UBM completed four acquisitions during the first half for maximum consideration of £21.2 million. UBM also recently concluded the acquisition of U.K.-based organiser of Ecobuild for a cash consideration of £31.2 million and up to an additional £20.0 million of earn out.
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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