Moscow improvement cheers ITE
16th May 2011 07:25
Exhibitions organiser ITE said it is now operating in a 'business as usual' environment in its main market Moscow after recovering from the global economic downturn. In the six months to 31 March, headline pre-tax profits climbed to £9.1m from £6.4m over the same period the previous year on revenue
Read moreBroker tips: Astra, ITE, Blacks Leisure
27th Jan 2011 13:02
Results from drugs giant AstraZeneca were in line with expectations but 2011 guidance was less severe than Charles Stanley had been expecting. "We note that guidance for a flat to low single-digit decline in the top line (using constant exchange rates) is broadly in line with existing consensus. Th
Read moreBroker snap: ITE in earnings upgrade cycle
27th Jan 2011 12:48
Exhibitions group ITE has made a strong start to its new financial year, but Singer Capital Markets warns against extrapolating too much from what is traditionally a quiet period for the group. Analyst Johnathan Barrett notes that like for like (LFL) revenue growth of 22% from a year earlier was im
Read moreITE executive raises £6.75m
17th Dec 2010 16:17
Edward Strachan, an executive director of exhibitions organiser ITE, has raised £6.75m by selling more than half of his shareholding. Strachan has sold 3m shares at 225p each. The shares were owned by Kyzyl Tan Consultants, where Strachan is the majority shareholder. Strachan still owns 2.675m sha
Read moreFTSE 250 movers: Index Punches higher
17th Dec 2010 15:28
Pub owner Punch Taverns surges higher to lead the index despite a mixed statement Friday. Shares advanced 12% after reporting a continued improvement in sales, even though the weather affected trading by 1% recently. In the managed business drinks sales grew 1.7% and food sales increased by 2.6%.
Read moreITE adds to Russian portfolio
17th Dec 2010 14:16
Exhibitions group ITE has snapped up Moscow-based International Exhibition Company CJSC (MVK) for €33m cash. MVK is a significant Moscow exhibition business which owns twenty trade exhibitions with annual volume sales of more than 55,000m2 per annum. MVK made gross profit before tax of 87m roubles
Read moreLondon close: Triple digit gains for FTSE 100
1st Dec 2010 16:56
Footsie was posting triple-digit gains at trading's close as markets across the globe roared in approval at talk that the European Central Bank may take more measures to deal with the debt crisis. Shares here got an extra boost from news that activity in the manufacturing sector hit levels not seen
Read moreLondon close: Late blow for Footsie
30th Nov 2010 16:28
Blue chips climbed out of the red late afternoon as losses across the Atlantic narrowed, but a late sell-off took the leading index back into negative territory and a new two-month low. A better than expected read on US consumer confidence helped trim the deficit on Wall Street, although fears abou
Read moreLondon afternoon: Vedanta falls after yanking flotation
30th Nov 2010 15:02
Though the majority of its constituents are lower, the FTSE 100 index is little changed on the day. Financials remain unnerved by worries over the future of the eurozone but otherwise the picture remains mixed, as it has been for most of the day. In a mixed mining sector Vedanta heads lower after i
Read moreITE says recovery in key markets underway
30th Nov 2010 07:21
Exhibitions group ITE said a recovery is now underway in all of its core markets and most notably in its key Moscow market. "Having stabilised earlier in the year, market conditions have now improved in all of our markets and this is reflected in both the encouraging fourth quarter performance and
Read moreLondon close: Footsie slumps in last hour
30th Sep 2010 16:48
A last hour slump sent Footsie into the red by the close of a roller-coaster day. The index had been over 50 points higher in mid-afternoon after US second quarter gross domestic product (GDP) was revised upwards to show a 1.7% quarterly increase. But the Dow turned down sharply soon after, draggin
Read moreLondon afternoon: US GDP data jolts Footsie into life
30th Sep 2010 15:02
Leading equities stormed higher after US second quarter gross domestic product (GDP) was revised upwards to show a 1.7% quarterly increase. Although this represented a slow-down from the 3.7% gain in the first quarter economists had not been expecting any improvement on the previous estimated gain,
Read moreLondon midday: Sluggish Footsie
30th Sep 2010 12:00
Investors are holding fire ahead of this afternoon's release of US gross domestic product data. The downgrading of the credit rating of Spanish sovereign debt came as little surprise and has had minimal effect on sentiment, as has news that the bail out of Anglo Irish Bank could cost Ireland as much
Read moreITE lifts sales guidance
30th Sep 2010 07:51
Analysts are likely to upgrade their sales forecasts for ITE after the exhibitions group focused on emerging and developing markets said it enjoyed strong trading in the fourth quarter, The company expects revenue for the year to end-September to be around £112m, down from last year's £117m, but c
Read moreThursday preview: Dairy Crest, Compass, ITE
29th Sep 2010 17:04
Milk and cheese producer Dairy Crest saw its shares take a hit earlier this month when rival Robert Wiseman Dairies issued a profit warning. The company felt moved to issue a statement to calm the markets, saying that though the market was "very competitive" it expected to deliver results that were
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