At its Annual General Meeting last week, United Business Media Limited said, "Trading is proving resilient in the face of an extremely challenging economic environment. Our globally diversified events portfolio contributed around 48 % of UBM's profits in 2008 and is on track to deliver a similar percentage of profits in 2009. Of the revenue generated from events in 2008, around 90 % was derived from exhibitors and sponsors, with only around 10 % coming from visitors paying to attend our events. Exhibitor and sponsorship revenue - over which we have good visibility - remains in line with expectations." UBM is relying on liquidity as a key asset in difficult credit markets, having € 279 million of cash and unused committed facilities at its disposal. (ja) www.ubm.com
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