Disappointing first reading for UBM's H1 15 results with underlying revenue down 4% and adjusted operating margin down 250bp to 21.7% from 24.2%. But the H1 organic decline appears to be linked to the slower growth profile of the group's H1 events (phasing impact) and portfolio pruning (rationalisation of Events and Other Marketing Services): adjusting for these non-recurring items, revenue organic growth was +0.6% (Events: +3.3%). Regarding the operating margin, the H1 14 OP included £
31 Jul 2015
Successfully implementing a convincing growth strategy
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Successfully implementing a convincing growth strategy
Disappointing first reading for UBM's H1 15 results with underlying revenue down 4% and adjusted operating margin down 250bp to 21.7% from 24.2%. But the H1 organic decline appears to be linked to the slower growth profile of the group's H1 events (phasing impact) and portfolio pruning (rationalisation of Events and Other Marketing Services): adjusting for these non-recurring items, revenue organic growth was +0.6% (Events: +3.3%). Regarding the operating margin, the H1 14 OP included £