ITE Group eyes improved full year revenue

1st Oct 2013 07:31

Conference and exhibition organiser ITE Group said it expects to reveal stronger annual revenue after positive trading conditions in most of its overseas markets during the fourth quarter. Revenue for the full year is expected to be around £191m compared to £172m in 2012, in line with market expectations.On a like-for-like (LFL) basis revenues climbed 4% from last year. The group ran 28 events in the fourth quarter producing revenue of around £26m, down from £27m the year before. Looking ahead the group said bookings for the financial year ending September 30th 2014 are progressing in line with management expectations after solid trading in most of its markets. As at September 26th 2013, ITE booked £75m of revenue for the 2014 financial year, representing around 39% of current market expectations for the year. ITE said it continues to generate good organic growth from its portfolio of events, and retains a strong balance sheet.CJ