22 Nov 2016 16:20
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Don't have an account? Click here to register.ITE Group endures slump as events turn geopolitical
Mon, 03rd Oct 2016 11:25
(ShareCast News) - Events and exhibitions organiser ITE Group warned that its bookings for next year were slightly behind this year due to challenging conditions in several markets, especially Turkey. For the current year, although like-for-like revenues fell 8% in the fourth quarter, 52-week sales will fall 2.2% to £133m.The weak pound was a help but not able to make up for difficult conditions with the attempted coup in Turkey hitting September events in the region, with its largest food exhibition, World Food Moscow seeing a further 11% decline in space sales to 20,200sqm.With trading conditions continuing to be challenging in several regions, events in Turkey are expected to put a downer on trading in the region until 2018.At the end of last month, ITE had booked roughly £58m of revenue for the 2017 financial year, down 10% on a year ago at absolute terms and 1% behind the prior year on a like-for-like basis.
More News
3 Oct 2016 08:10
BUZZ-ITE: shares dive after bookings hit by Turkey coup attempt
** Shares in exhibition organiser ITE Group down as much as 6.6 pct, poised for their worst day since late July ** Co says recent attempted coup in Turkey has significantly affected international travel to the region, hurting its bookings on Turkish events ** Co says rev for 3 months
Read more19 Jul 2016 15:44
Ebiquity CFO to join ITE Group
(ShareCast News) - ITE Group said it has appointed Andrew Beach as chief financial officer. Beach is currently CFO at Ebiquity plc, the AIM listed marketing analytics specialist. He will join ITE by the beginning of January 2017. Des McEwan will continue as interim group finance director until this
Read more5 Jul 2016 15:04
2 Jun 2016 15:08
9 May 2016 07:57
ITE Group H1 profit up, new CEO appointed
(ShareCast News) - Events company ITE Group posted a rise in first-half pre-tax profit as it announced the appointment of a new chief executive. For the six months to the end of March, pre-tax profit was up 36% to £10.6m as revenue grew to £63.6m from £56.1m. Chief executive Russell Taylor said:
Read more4 Apr 2016 15:57
Broker tips: M&S, Kingfisher, ITE Group
(ShareCast News) - Ahead of Marks & Spencer's results on Thursday, Berenberg reiterated its 'sell' recommendation and cut its earnings forecasts for the next three years due to the continuing decline in clothing sales. Thursday's fourth-quarter results for the three months to 31 March 2016, coming a
Read more4 Apr 2016 13:00
Canaccord leaves ITE Group at 'hold' after trading update
(ShareCast News) - Canaccord Genuity has kept its 'hold' rating and target price of 145p unchanged for ITE Group after the exhibitions organiser reported its first half trading update. The company on Monday reported a 12% increase in first half revenue to £63m, lifted by strong performances from acq
Read more