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CMP to post fourth-quarter profit

Published on .

London--United Business Media announced that despite the difficult technology sector, its CMP Media subsidiary in the U.S. has reported stable revenue and operating profit figures.

Although CMP’s revenues, as anticipated, are 45% below the record revenues of 2000, United Business Media expects the unit to post a profit in the fourth quarter.

CMP, according to its owner, has gained market share--28.8% in October 2002 versus 24.8% in October 2001--placing the company in a strong position to take advantage of any advertising uptick in 2003.

United Business Media, however, also said that its PR Newswire division and its U.S. market research business have suffered deteriorating revenues, which have led to further job cuts.

--Sean Callahan

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