ITE Group local sales still down

Exhibitions group ITE said the economic crisis continues to affect local sales, though international events are performing relatively better. Overall, on a like for like basis, the group's volume sales for the full financial year are around 20% below last year's contracted sales at the same time, though like for like revenues are only marginally behind last year's comparable figure, reflecting the benefit of favourable exchange rates. "The trends experienced in the first half of the financial year have continued through the third quarter with the proportion of 'pre-crisis' bookings diminishing as the Group moves further into the financial year," said the group.Revenues in the three month period to 30 June were £58.9m, against £53.9m in 2008, in line with expectations. As at 24 July the Group had £108.4m of sales booked for the current financial year (this time last year: £100.8m), representing approximately 93% of market expectations for the full financial year.