* Like-for-like volumes sales in Russia running behind lastyear
* Current total like-for-like trading volumes 17 pct lower
* Says trading conditions in Russia deteriorated in past twomonths (Adds details, analyst comment, updates share movement)
By Noor Zainab Hussain
Jan 29 (Reuters) - ITE Group Plc, a trade exhibitionand conference organiser, said volumes sales in Russia, itsbiggest market, were running 20 percent less than this time lastyear, hurt by the fall in oil prices and a weak rouble.
ITE, which saw about 59 percent of its revenue coming fromRussia in 2014, said it had contracted 85 million pounds ($128million) of revenue for the year ending September 2015, using anexchange rate of 95 roubles to a pound.
The rouble fell 29 percent against the pound during ITE's first quarter ended Dec. 31, while brent crude oil lost 40 percent during that period.
ITE shares fell as much as 7.3 percent on the London StockExchange on Thursday.
"There remains very substantial currency and political riskin forecasts, and so the shares will be unattractive to many onfundamental grounds. But the exhibition industry is awash withmajor deals and ITE, should politics allow, is a prized asset,"said Peel Hunt analyst Malcolm Morgan in a note.
ITE said trading conditions in Russia had deteriorated overthe past two months, hurting its international and domesticexhibitors.
ITE's total like-for-like trading volumes were 17 percentlower than this time last year, and like-for-like revenue on aconstant currency basis was trailing by 15 percent, it said.
Kepler Cheuvreux analysts said none of the other largeexhibition organisers had exposure to Russia, and they did notsee any impact on UBM, Informa or Reed Elsevier.
UBM bought trade show organiser Advanstar Communicationslast year for $972 million, becoming the top events organiser byrevenue in the United States.
Rival Informa said in November that it would buy U.S. tradeshow operator Hanley Wood Exhibitions.
ITE said it would continue its strategy of diversifyinggeographical exposure outside of Russia.
Chief Executive Russell Taylor told Reuters in October that there would be less incentive to develop the business furtherwithin Russia.
"South America is the only area where I'm surprised they(ITE) have not looked, but the far east, India, a little bit ofNorth America, Turkey... these are all interesting territoriesfor them," analyst Morgan told Reuters.
Shares in the company were down 5.04 percent at 137.1875pence at 1027 GMT. ($1 = 0.6602 pounds) (Editing by Gopakumar Warrier)
