London-based United Business Media last year continued to reshape its business by shrinking its print magazine operations while concentrating more on higher revenue generating businesses, including data and events. Print magazines, the company said, accounted for 5 percent of its overall adjusted profits.

For the 12-month period ended December 31, 2009, UBM reported roughly $257.8 million in adjusted operating profit, compared to $261.3 million in 2008. Revenues were approximately $1.27 billion, down from $about $1.33 billion the prior year. Print, meanwhile, accounted for only $13.4 million in adjust profit, a decline of more than 60 percent from about $35.9 million the prior year.

As part of its migration away from print, UBM said it shuttered 31 magazines in 2009. The company also said it reduced its headcount last year by 479.

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