UBM intends to end its tax exile status and return to Britain next year.
A nine-month trading statement from the events organiser released 18 October and covering the period to 30 September 2012, revealed overall sales up four per cent at £735m.
Like-for-like growth is up five per cent and adjusted operating profit grew 11 per cent to £142m.
Revenue at the events division increased 13 per cent and accounted for most of the overall profit rise, according to the trading statement.
Shares at the owner of International Confex, perhaps surprisingly, slipped four per cent to close below 700p.
UBM had moved its HQ to Dublin in 2008 to benefit from lower coporation tax. Now directors recommend a return to a UK tax domicile subject to shareholder approval.
UBM Chief Executive Officer, David Levin, said: “UBM remains on track to deliver the consolidated group guidance we reiterated at the Interim Results. Events growth continues as expected with good growth in our large Q3 events, particularly in China, and we continue to invest to strengthen our global events business. PR Newswire permed well, with good growth and margins on track.
“The Data Services and Marketing Services segments reflect slightly softer market conditions in businesses that serve the global semi-conductor industry. Our guidance reflects this softness and we remain mindful of the continuing uncertainties in the macro environment. We expect to complete the strategic review of Data Services by the end of Q1 2013.”
UBM’s consolidated net debt stood at £518.9m as at 30 September 2012 down from £536.8m at 30 June 2012.
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