BtoB

United Business Media reports retained loss of $134.6M for 2003

Published on .

Reprints Reprints

Most Popular
London--United Business Media, owner of Manhasset, N.Y.-based CMP Media, reported in its preliminary financial results Thursday that the company’s retained loss in 2003 was $134.6 million compared with a retained loss of $492.2 million in 2002. UBM posted an operating profit of $185.9 million in 2003, an increase of 53.2% compared with a figure of $121.4 million in 2002. This boost in operating profit was accomplished despite a decline in revenue of 5.9% to $1.4 billion in 2003.

CMP Media posted an operating profit of $27.7 million in 2003 compared with an operating loss of $12.7 million in 2002. CMP posted its improved operating profit despite a decline in revenue between 2002 and 2003 to $393.6 million from $445.4 million.

Clive Hollick, UBM’s CEO, said in a statement, “After a slow first half, revenues in the second half grew by 5.8%. In the U.S., underlying CMP Media health care revenues were up 31.0% in the full year and in the second half, continuing technology revenues matched the prior period for the first time in three years.”

--Sean Callahan

In this article: