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CORRECTED-Russia sanctions, weak rouble to hurt ITE Group in 2015

Tue, 02nd Dec 2014 09:28

(In second paragraph, corrects to say booked revenue was about17 percent lower, not 15 percent)

Dec 2 (Reuters) - ITE Group Plc, a trade exhibitionand conference organiser, said its booked revenue for next yearwas lower than a year earlier and that sanctions imposed onRussia and the weakening of the rouble would hurt it next year.

ITE, which earns about 70 percent of its revenue in roublesand euros, said that, as of Nov. 27, it had booked revenue of 81million pounds ($127 million) for 2015. This was about 17percent lower than the same time a year earlier on alike-for-like basis.

The company reported a 5.46 percent fall in pretax profitfor the year ended Sept. 30. ($1 = 0.6362 pound) (Reporting by Noor Zainab Hussain in Bengaluru; Editing byGopakumar Warrier)

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