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.
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"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.
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