30th Jan 2014 10:48
LONDON (Alliance News) - ITE Group PLC said Thursday that it has seen revenue increase in the quarter ended December 31, with trading ahead of expectations despite the strengthening of sterling against its major trading currencies.
The exhibitions and conferences organiser saw revenue of GBP36.3 million, up from GBP29.7 million during the quarter, as it saw strong growth from Central Asia and Russia.
The first quarter is ITE's smallest, the company said, as its only leading event in the period is its recently acquired Chinacoat exhibition.
The company has GBP121 million of revenues contracted for the full-year 2014. ITE said it was continuing to monitor political uncertainty in Ukraine, which could effect its international sales in the country, but as the region is only small part of its operations, this effect would be "immaterial" to its results.
Shares in ITE were trading down 0.2% at 279.50 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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