UBM, a London-based global show organizer and media company, released the results of its third quarter performance, including how its events fared.
“Our performance in Q3 continued the positive momentum we have seen develop through[out] the year. Large events, notably our shows in China, have performed well, and we continue to expect good growth in Q4 boosted by strong biennial revenues,” said David Levin, CEO, UBM. “We have seen softer conditions in certain markets, mainly in Brazil and India, and have slightly reduced the number of new launch events originally scheduled for Q4.”
Year-to-date event revenues were up 2.7 percent at £331.3m compared to last year’s revenues of £322.6m. The third quarter underlying events revenue growth was 10.8 percent, which was up from 6.5 percent in the second quarter. On the other hand, biennial events totaled £9.5m, which is a drop from 2012’s year-to-date revenue of £17.2m.
Five UBM top 20 events ran in the third quarter, and these performed in line with expectations, according to company officials who saw strong double-digit growth in Children-Baby-Maternity-Expo. Also, BlackHat USA was moderated by single digit growth at Concrete Brazil as well as September Hong Kong Jewellery Show and Furniture China.
Growth in revenues from a number of mid-sized and smaller events was slower than anticipated as UBM saw softer market conditions in a number of markets, such as Brazil and India
As of Sept. 30, forward bookings for 2012 Top 20 annual events are up 8.5 percent on a constant currency basis compared to last year