Business publisher and events organiser UBM disappointed investors today as it said revenues for the first nine months of the year had risen by only 4%.
Total sales came in at £735 million, which was some £30 million short of analysts’ forecasts.
The shares dropped more than 5%, losing 38.25p at 684.25p.
Data services, which could be put up for sale early next year, and marketing services both saw a slowdown in revenues as they were hit by the global downturn in the semi-conductor industry.
Chief executive David Levin said: “Events growth continues as expected with good growth in our large, third-quarter events, particularly in China, and we continue to invest to strengthen our global events business. PR Newswire performed well, with good growth and margins on track.”
UBM also confirmed it will return its tax headquarters from Dublin to the UK. It moved there three years ago.
