United Business Media earnings soar 25% in first half of the year

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London—United Business Media, which owns CMP Technology, Tuesday reported a 25% increase in first-half earnings, fueled by strong growth in online events and business acquisitions.

UBM, which also owns PR Newswire, said profits through the end of June rose to $151 million, from $121 million a year earlier. Overall revenue was up 25% to $727 million, from $580 million in 2005.

CMP Technology’s revenue fell 3.6% in the first half while “diminished” print revenue and online investments reduced profits by 32.7%. However, CMP’s events performed strongly in the first half, with revenue growing 150% to $70 million, from $28 million a year earlier.

CMP’s online business also showed strong growth, both organically and through acquisitions, with revenue increasing 70% to $32 million. Over the past several months CMP has made a string of acquisitions, buying up targeted trade shows and niche online properties.

—Matthew Schwartz

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