The media company made 12 acquisitions for a total of $69.0 million and pumped $44.7 million into trade shows. (UBM last week announced that it has acquired Shanghai International Children-Baby-Maternity Products Expo and related businesses on behalf of its UBM Asia division for up to $16.1 million.)
However, the company’s print portfolio continues to be a drag on earnings, with print revenue down 13.9%. This year, UBM has launched one print title and shuttered four others. Last year, the company closed 31 print titles.
“While we see evidence of improved trading conditions in many of the markets and geographies in which we operate, we remain cautious regarding the pace, depth and sustainability of the wider macroeconomic recovery,” said UBM CEO David Levin, in a statement.