ITE Group PLC
03 October 2005
3 October 2005
ITE Group plc
Pre-close trading update for the year ended 30 September 2005
ITE Group plc, the international exhibitions group specialising in emerging and
developing markets, has today issued the following update for the year ended 30
September 2005, prior to entering its close period and ahead of its preliminary
results announcement on 6 December 2005.
The Group's second half performance has been stronger than expected, following
recent events and exhibitions, with particular trading highlights including:
• The Caspian Oil and Gas event, acquired in October last year and held in
Baku in June, achieved a much improved result under ITE's stewardship.
• The biennial Moscow Oil and Gas exhibition which was held in Moscow in
June realised an increase of 10% in space sales and 15% in revenues over the
• In Kazakhstan, the building and construction event, Kazbuild, enjoyed
strong growth over last year's event
• The World Petroleum Congress, which recently concluded in Johannesburg,
South Africa, enjoyed strong delegate sales over the last two months.
As a result of these performances ITE now expects its revenues for the year
ended 30th September 2005 to exceed consensus forecasts by 4 to 5%.
ITE also announces that it has recently signed a ten year co-operation agreement
with Crocus, a new Moscow exhibition venue, which will assist the growth of
several premier ITE events, including ITE's largest and most successful event,
Mosbuild. This agreement is supplementary to ITE's existing co-operation
agreements with other Moscow venues.
Ian Tomkins, Chief Executive Officer of ITE, said:
'The second half of the year included some particularly strong results in our
core markets of Russia and Central Asia. The year ended very well with the World
Petroleum Congress in Johannesburg, being an excellent showcase of ITE's major
event organising capabilities, and confirms our leading position in the Oil and
The new long-term agreement with Crocus will help underpin the future growth of
several of ITE's Moscow based exhibitions, and the recent acquisition of the
Footwear exhibitions in the UK further consolidates ITE's market leadership of
the UK fashion sector.'
Ian Tomkins Tel: 0207 596 5000 Tim Spratt/Charlie Palmer:
Chief Executive, ITE Group plc Financial Dynamics Tel 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange