UBM has sold Ecobuild to its management

Extract from 2016 Results announcement:

In December, UBM sold Ecobuild to its management for a nominal sum, incurring a total loss on disposal of £35.1m principally relating to the write-off of goodwill.

Refocusing on events is complemented by the disposal and rationalisation of smaller, lower-margin, lower-growth events and of OMS activities that are not well aligned to events, in line with our strategy.  In 2016, 27 events and eight OMS properties, with revenues in 2015 of £11.7m and £3.8m respectively, were discontinued. We disposed of the US Electronics and eMedia business for £19.2m, the remaining investment in the Light Reading business for £16.1m, and some other small events and media properties.

For the full press release click here

Key financial information
Revenue Adjusted operating profit*
2016 Underlying* change %  Adjusted underlying* 2016 Margin Margin
£m change % £m % change %pt
Continuing operations
Annual 683.5 1.00% 3.10% 220.8 32.30% +0.9%pts
– of which majors 589.3 3.90% 3.90%
Biennial 28.1 19.5%** 19.5%** 8.3 29.30%
Events 711.6 1.00% 3.10% 229.1 32.20% +0.1%pts
Online 88.2 -4.20% -2.00% 13.4 15.20% +5.6%pts
Print 63.2 -6.40% -2.60% 10.7 16.90% +0.0%pts
OMS 151.4 -5.10% -2.30% 24.1 16.00% +3.3%pts
Corporate costs -18.4
Group 863 -0.10% 2.10% 234.8 27.20% +1.6%pts

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