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UK Earnings, Trading Statements Calendar - Next 7 Days
Thursday 27 September PetropavlovskHalf Year ResultsHalmaTrading HoldingsHalf 28
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Don't have an account? Click here to register.ITE Group H1 profit up, new CEO appointed
Mon, 09th May 2016 07:57
(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: "ITE has delivered a good first half performance showing the benefits of the group's diversification strategy. The trading environment in Russia and Central Asia continued to be challenging over the first half but the acquired Breakbulk portfolio and Africa Oil Week together with the increased stake in ABEC's Indian events portfolio have supported a good performance from the Group's business in Asia and the Rest of the world. "Looking forward, prospects in Russia are improving and the economy is expected to show growth in 2017. ITE has a sound financial platform with good operating cash flows and the group is entering the second half of the year with good visibility on current year bookings. Accordingly the board has confidence in the full year outcome."ITE cut its interim dividend this year to 1.5p from 2.5p in 2015 pointing to the current lower levels of trading in Russia and Central Asia and saying it believes rebuilding dividend cover to historic levels of more than 2 times earnings is in the best long-term interest of shareholders.The board expects to be able to resume a progressive dividend policy in the future and will seek to maintain over two times earnings cover going forward.Also on Monday, ITE announced the appointment of Mark Shashoua as CEO. He will succeed Taylor, who will stand down from the role on 1 September following 13 years at the company.Shashoua has been CEO of B2B events and trade exhibitions company i2i Events since November 2011. Prior to that, he was involved in establishing Expofund Ltd, a corporate investment fund and was an operating partner with Advent International.At 0818 BST, shares were down 0.3% to 148.59p.
More News
5 Sep 2018 12:21
ITE To Sell Russian Events Unit To Shtab-Expo For GBP8 Million
LONDON (Alliance News) - ITE Group PLC said Wednesday it plans to sell its non-core Russian events unit ITE Expo LLC to Shtab-Expo LLC for GBP8 million.ITE Expo operates 56 smaller, events
Read more25 Jul 2018 16:00
ITE Sells 75% Stake In Malaysian Events Firm To UBM Subsidiary
LONDON (Alliance News) - ITE Group PLC said on Wednesday it has sold a 75% stake in Malaysia-based events business ECMI ITE Asia Sdn Bhd and other Indonesian assets to UBM PLC's subsidiary Sdn
Read more3 Jul 2018 16:08
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DIRECTOR DEALINGS: ITE Strategy Director Rakhi Williams Buys Shares
LONDON (Alliance News) - ITE Group PLC said Monday Strategy Director Rakhi Williams purchased 38,042 shares at a price of 73.20 pence each.Williams' holding in the company, if any, was
Read more18 Jun 2018 15:58
UK Shareholder Meetings Calendar - Next 7 Days
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Read more25 May 2018 13:29
DIRECTOR DEALINGS: ITE Group Chief Executive And Chairman Buy Shares
LONDON (Alliance News) - ITE Group PLC on Friday said its Chief Executive Officer Mark Shashoua and Chairman Richard Last acquired shares in exhibitions and conferences organising firm, both on at
Read more15 May 2018 12:23
ITE Profits Falls On Restructuring Costs As Acquires Ascential Unit (ALLISS)
LONDON (Alliance News) - Business exhibitions firm ITE Group PLC said Tuesday its half-year profit fell amid restructuring costs despite its revenue rising on a reported and like-for-like basis as
Read more15 May 2018 10:33
Ascential Sells Exhibitions Business To ITE For GBP300 Million (ALLISS)
LONDON (Alliance News) - Ascential PLC said Tuesday it will sell its exhibitions business to ITE Group PLC for GBP300 million in cash after a strategic review.ITE will acquire the business
Read more8 May 2018 16:09
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ITE Sells Malaysian Exhibitions Unit For GBP4.2 Million To UBM
LONDON (Alliance News) - ITE Group PLC said Tuesday it sold Malaysian subsidiary and Metaltech-owner TradeLink ITE Sdn Bhd for GBP4.2 million to UBMMG Holdings Sdn Bhd, a subsidiary of UBM firm or
Read more4 Apr 2018 11:30
ITE Confident In Annual Results As Anticipates Interim Revenue Growth
LONDON (Alliance News) - ITE Group PLC on Wednesday said it is confident in its full-year expectations with current trading in line and revenue up in the first half.The
Read more26 Jan 2017 15:44
ITE Group revenue rises slightly as it faces tough trading
(ShareCast News) - ITE Group published a trading update for the period from 1 October to date on Thursday, including its first quarter trading period from 1 October to 31 December. The London-listed firm's investors were meanwhile gathering for its annual general meeting. Trading in the first quart
Read more19 Jan 2017 16:18
29 Nov 2016 08:39