ITE Group still going strong

published 1 October 2012

ITE Group, the exhibitions group specialising in emerging and developing markets, said fourth quarter trading has continued to reflect positive trading conditions as it issued a confident outlook for this year and beyond.

In its company update for the year ending 30 September 2012 the group enjoyed good regional growth despite increasing currency headwinds.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

The group ran 40 events during the final quarter producing revenue of around £27m, up 10% from last year on a like-for-like (LFL) basis.

MODA, ITE's Birmingham based fashion event business performed well in a difficult trading environment. World Food Moscow, its food exhibition business recorded its largest ever event with a 6% increase in space sales to 24,300sqm.

"The group continues to experience good levels of organic growth and to generate strong cash balances which together with a strong balance sheet will allow the Group to continue to further develop and expand its business," it said in an update.

"The Board remain confident in the group's prospects for 2013 and beyond."

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.