UBM reduces losses
United Business Media has reported reduced full-year losses for the 12 months in which it sold its ITV businesses and Express Newspapers.
LONDON (Brand Republic) - United Business Media has reported reduced full-year losses for the 12 months in which it sold its ITV businesses and Express Newspapers.
The sale of these and other none-core business-to-business assets fetched £3.2m during 1999. Net losses narrowed to £49.4m for 2000, compared with £61.1m in 1999, as a result of the sale and increased advertising revenues.
UBM’s professional media division, which includes its CMP Media high-tech business-to-business media offering, saw operating profits rise by 20% to £125.4m.
Its news distribution arm, which owns PR Newswire, reported operating profits of £40.7m, up from £26.1m in 1999. Its market research arm, which includes UK-based NOP, saw operating profits rise to £22.6m from £19.5m.
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