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UBM optimistic despite falls in advertising.

MARKET research and publishing group United Business Media yesterday said it was continuing to win market share in the US, despite sharp falls in advertising revenue.

UBM's American business-tobusiness arm CMP Media saw advertising page volumes at its high-tech magazines drop 41.5pc below a year ago in October.

But the IT market as a whole in the US suffered a 46.3pc drop during the month, which meant CMP made further progress against its rivals, UBM said.

CMP Media's market share in October rose to 30.1pc, up from the 28.5pc recorded in September and ahead of the corresponding figure last year.

The tough conditions in the US have knocked profits at UBM and the fall in its share price saw the group demoted into the FTSE 250 a fortnight ago.

The decline in the market has hit CMP Media's Internet Week magazine hard with advertising page volumes at the publication down 67pc last month.

Yesterday, UBM's shares were down 15p at 517p in early trading.
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Title Annotation:Business
Publication:Western Mail (Cardiff, Wales)
Geographic Code:1USA
Date:Dec 1, 2001
Words:168
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