UBM produced satisfactory FY 16 results with continuing revenue up 12.1% to £863m, more or less in line with our forecasts (£858m) with Events up 3.1% underlying. Total revenues were boosted by a significant forex impact (+£92m or 11.9%; sterling weakness linked) as well as £26.1m or 3.4% coming from the perimeter impact and were nearly flat at CER (+0.1%). Continuing adjusted OP rose by 19.2% to £234.8m (+£37.m after +£31.3m from forex and -£12
27 Feb 2017
A pure-play events business which is delivering
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A pure-play events business which is delivering
UBM produced satisfactory FY 16 results with continuing revenue up 12.1% to £863m, more or less in line with our forecasts (£858m) with Events up 3.1% underlying. Total revenues were boosted by a significant forex impact (+£92m or 11.9%; sterling weakness linked) as well as £26.1m or 3.4% coming from the perimeter impact and were nearly flat at CER (+0.1%). Continuing adjusted OP rose by 19.2% to £234.8m (+£37.m after +£31.3m from forex and -£12