By Greg Hazley
PR Newswire parent UBM reported first half revenues rose 9.1% to £474M, although U.S. revenue from its PR Newswire-led division dipped 3.6% in the U.S.
UBM's targeting, distribution and monitoring division (PRN) overall posted a 4.4% increase to £95.2M on gains in Europe (up 49.2% to £9.4M), Canada (4.6% to £16M) and Asia/Latin America (13.6% to £5M).
In the U.S., PRN's largest market where it has relationships with the PR and/or IR departments of 22,000 U.S. companies, revenue slid to £37.5M in '11 from £38.9M during the first half of '10. UBM CEO David Levin called that performance "resilient."
Operating profit for the PRN-led unit fell 14.1% in the first half.
UBM's events business is its largest sector and was the focus of four acquisitions this year as revenues hit £177.1M (up 27.1%) in the first half.
Events is followed by data services (£100.2M, +1.6%), targeting, distribution and monitoring (£95.2, +4.4%), print (£59.7M, -19.7%) and online (£41.8M, +35.3%).
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