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UBM sees current trading in line with expectations
Events organiser UBM, which is being taken over by Informa, said current trading was in line with expectations despite a "challenging" fashion sector.
UBM said it was "seeing good momentum in the business as its "Events First" strategy continues to translate into performance
"The US spring fashion events performed in line with our expectations though, as previously indicated, the Fashion sector remains challenging," the company said.
"To date four bolt-on events businesses have been acquired for a combined consideration of £20.2m. In addition to the two acquisitions announced at the full year results, MetalTech in Malaysia was acquired from ITE and three food, hospitality and retail events in Hong Kong were acquired from Diversified Communications."
"The pipeline remains strong. As part of the business as usual review of the portfolio, Medtech Europe and a number of small US fashion and UK construction media assets were disposed of."
UBM said a the end of March, final proceeds of $43.4m relating to the sale of PR Newswire were received bringing the total proceeds from the disposal to $853.4m.
It added that the takeover by Informa remained on track for completion by the end of the second quarter of 2018.