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Don't have an account? Click here to register.ITE Group hit by "challenging" conditions as H1 revenues drop
Tue, 15th Jul 2014 08:02
ITE Group, the trade exhibitions and conferences organiser, said it experienced a "challenging trading environment" in the third quarter with revenues well below last year.The company generated sales of £73m in the three months to June 30th, compared with £96m last year.The decline reflected the absence this year of the biennial Moscow International Oil & Gas Exhibition along with continued negative currency movements and the impact of the political crisis on its Ukrainian business.Like-for-like (LFL) revenues on a constant currency basis fell by just 2%, with the shortfall in Ukrainian revenues completely to blame. LFL revenues on an actual basis were down 16%.During the quarter, Turkish construction event Turkeybuild delivered a small increase in volumes, while the Turkey-focused beauty and cosmetics firm Beauty Eurasia which ITE acquired last year performed ahead of expectations. However, the Moscow construction event Mosbuild reported lower volumes than last year.As of July 11th, ITE had contracted revenues of around £167m for the full year, which is down 10% on a LFL basis. However, the firm said it still remains "confident" in the outlook for the full year: "The group remains in a strong financial position, generating strong cash flows and is well placed to continue to diversify its business into new markets and geographies."BC
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
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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