Adverts slump easing, says United

PUBLISHING group United Business Media has signalled the advertising downturn is easing - but it warns investors not to expect an immediate recovery.

Advertising page volumes at CMP Media, UBM's US publisher, fell 28.8% in March as companies held back on spending. But the drop was less than February's 34.7% and the figures have been steadily improving since October's 41.5% slide. Market share across the arm also saw an improvement in March and rose 4.4% to 28.4%.

Addressing shareholders at UBM's annual general meeting today, chairman Sir Ronald Hampel said: 'In the technology market in the United States, trading conditions remain challenging with no sign of any improvement. CMP Media's revenues have, for the last six months, been running at some 40% below the levels of 2000.'

CMP, based in Manhasset, New York, publishes Information Week, VAR Business and CRN. It also has operations in the UK, mainland Europe and Asia.

London-based UBM has three core divisions - CMP, news distribution through PR Newswire and market research business NOP World.

Sir Ronald said PR Newswire had seen no improvement in US volumes but NOP continued to make 'steady progress', with UK order books in the first quarter up 5%.