ITE Group to beat expectations

Exhibition organiser ITE Group said it expects profits for the year to September 30 to be ahead of current expectations as cost-cutting and favourable exchange rates help it cope with sharply reduced sales volumes.The firm, which organises exhibitions about subjects such as the oil and gas industries and focuses on emerging and developing markets, said sales volumes for the full year as expected to be down by about 18% from last year. However, the trading environment in its main markets appears to have stabilised, the firm said, with modest growth forecast for the markets in 2010.'ITE's markets have significant long-term growth potential and the group's strong balance sheet and portfolio of leading events position it well to benefit from a recovery,' the firm said.ITE's main markets include Russia, Ukraine, Azerbaijan, Kazakhstan, Turkey and Uzbekistan.