UBM sees H1 results beating forecasts modestly

LONDON (Reuters) - Publisher and events organiser United Business Media (UBM.L) said on Thursday its first-half results would be modestly ahead of market expectations, after a good performance by technology businesses.

"Despite the volatility of markets worldwide, UBM's products and services in the B2B (business-to-business) markets we have chosen to operate in have, to date, generally proven resilient," UBM said.

UBM, which separated its former technology division into four units in February, said: "This strategy shows early signs of success" and first-half revenues will be higher year-on-year.

The company also said changes at its CMPMedica healthcare business were having their planned impact.

UBM said the performance of events it runs "has been in line with, or ahead of, our expectations".

Turning to publishing, UBM said while it expected "cutbacks in certain areas of advertising during 2008 and, most likely, into 2009 ... our advertising-related products are increasing market share".

UBM shares, which have outperformed other London-listed media companies .FTASX5550 by 4 percent over the past 12 months, closed at 580 pence on Wednesday to value the business at 1.38 billion pounds.

(Reporting by Dan Lalor; Editing by Erica Billingham)