ITE trading in line with expectations
Exhibitions and conferences firm ITE Group has been trading in line with management expectations for the first three months of the financial year, with revenues of £31m, compared to £20.5m for the same period the previous year.
Exhibitions and conferences firm ITE Group has been trading in line with management expectations for the first three months of the financial year, with revenues of £31m, compared to £20.5m for the same period the previous year.
The Kazakhstan Oil and Gas Exhibition & Conference achieved sales of 8,500 sqm, an increase of 9% over the prior year. The group acquired the licence to run the Kazenergy Forum in Astana this year which has contributed to an overall increase in conference revenues of 30%.
In a statement the firm said: "Trading conditions in our core markets remain positive, and overall bookings for the remainder of the year are progressing in line with management expectations.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"As at January 24th the group had contracted £113m of revenues for the current financial year, 8% ahead of the prior year on a like-for-like basis. This represents around 67% of current market expectations, which is consistent with our long-term average of bookings at this stage of the group's financial year."
The group had net cash of around £12m at January 22nd, following the acquisition of Autoexpo and a number of other payments.
The share price rose 1.12% to 107.9p by 09:04.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
RICS: homebuyers are returning after stamp duty shock
The housing market has been subdued since stamp duty thresholds dropped in April, but there are signs of a recovery
-
Reducing cash ISA limit will make lending difficult and expensive, warn providers
An open letter from the Building Societies Association has urged the chancellor to keep the cash ISA limit at £20,000. We look at whether a smaller cash ISA allowance will make it harder to get a mortgage or loan