UBM to shed 350 in bid to improve bottom line

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The conference organiser and publisher of Property Week, Daltons Weekly and Farmers Guardian did not say which operations would be hit. However, it today highlighted weakness in print advertising and secondary events, while analysts said UK construction-sector titles will be vulnerable.

This contrasts with a stellar performance in some divisions, particularly the major exhibition and trade shows and PR Newswire. UBM has also benefited from the strengthening dollar, meaning November turned out to be its best month in the last six years in terms of operating profit.

Chief executive David Levin prepared shareholders for further acquisitions, saying: "We remain fully prepared to take advantage of emerging opportunities. We have anticipated and planned for a difficult global economic background in 2009."

It repeated last month's market assurance that full-year results will meet expectations.