1st Oct 2013 06:30
LONDON (Alliance News) - ITE Group Plc. (ITE.L), an international exhibitions group specialising in emerging and developing markets, Tuesday said it expects higher annual revenues in line with market expectations.
In an update for the year ending September 30, the firm said revenues for the fourth quarter reflect positive trading conditions in most of our overseas markets. Revenue for the full year is expected to be about 191 million pounds, compared to 172 million pounds last year.
The Group ran 28 events in the fourth quarter producing revenue of circa 26 million pounds, a slight drop from last year's 27 million pounds. On a like-for-like basis, revenues are 4 percent higher from last year.
Bookings for the financial year ending September 30, 2014 are progressing in line with management expectations, reflecting continued good trading conditions in most markets. As at September 26, the Group had booked 75 million pounds of revenue for fiscal 2014, representing around 39 percent of current market expectations for the year.
Copyright RTT News/dpa-AFX
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