ITE Group PLC
24 February 2005
24 February 2005
ITE Group plc
ITE Group plc Chairman, Iain Paterson, made the following comments at the
Company's Annual General Meeting today.
'The Group continues to experience strong demand for its core exhibitions and
events. The principal events which have taken place so far this year have
enjoyed growth in both volume and revenue over the equivalent events last year.
'The Kazakhstan Oil and Gas exhibition and conference held in October was the
largest to date and improved its sterling revenues by about 10% over last year
despite the effect of a weaker US Dollar. The Food Ingredients exhibition that
was held in Moscow in November and Kievbuild, our Ukrainian building exhibition
held in February, also increased their volumes and revenues by more than 10%
over last year's events. The Spring version of MODA, our UK fashion exhibition
held in Birmingham, achieved sales of 12,000m(2) net, its best ever performance.
'In Kyiv, Ukraine, the two acquisitions made in 2004 in the Medical and Telecoms
sectors both enjoyed successful first time outings under ITE's ownership.'
Forward sales bookings for the remainder of the financial year continue to enjoy
growth of more than 11% on last year on a 'like for like' equivalent basis.
However certain shows remain constrained by venue capacity. ITE has now sold 80%
of consensus market forecasts for full year revenues and the Board remains
confident of fulfilling expectations.'
Iain Paterson 020 7596 5000
Chairman, ITE Group plc
David Simonson / Bridget Fury 020 7653 6620
This information is provided by RNS
The company news service from the London Stock Exchange