UBM expects 'incremental' benefit from foreign exchange rates

10th Nov 2016 08:41

(ShareCast News) - Business-to-business event organiser UBM said that it had continued to perform in line with management expectations during the year, as it anticipates an "incremental" benefit from foreign exchange rates.The FTSE 250 company said that the trading outlook for the full year is unchanged, while expects a "small incremental" foreign exchange benefit, given the recent movements in exchange rates.For the year to date, the company said it continues to progress with its Events First strategy at an operational level, while events such as CBME, BlackHat, CPhI and ICSE performed "strongly".Its performance in China improved, generating growth but some softness was seen in the third quarter fashion and jewellery events, although "customer sentiment at the shows was positive".Recent acquisitions of Content Marketing Institute and BJI are performing in line with their business cases, as the integration of some of BJI's events into the September Coterie show in New York was well received by customers and the synergies from the acquisition are coming through earlier than expected.At the end of October the company bought the Battery Show for $13.8m.Shares in UBM were up 1.85% to 717p at 0850 GMT.