ITE sees signs of stabilisation

18th May 2009 08:10

Exhibitions group ITE said it has seen some signs of stabilisation in its core markets as it posted higher half year profits.Pre-tax profit rose to £11.1m in the six month ended 31 March compared with £3.9m last time while revenue increased 33% to £43.2m. The firm also maintained interim dividend of 1.6p."The economic climate remains challenging but we have seen some signs of stabilisation in our core markets in recent weeks," said chief executive Russell Taylor."ITE's principal markets have significant long-term growth potential and events remain the primary route to market for many of our exhibitors. ITE's leading portfolio of events and strong balance sheet makes the board confident that we will emerge from the global downturn as a stronger business," he added.