ITE Group PLC
20 February 2006
20 February 2006
ITE Group plc
Investor Seminar and Trading Update
ITE Group plc is today holding an investor and analyst seminar at its MODA UK
exhibition in Birmingham. MODA UK Spring together with the newly acquired
Footwear UK exhibition opened yesterday. The total exhibition including,
Womenswear, Menswear, Accessories and Footwear has now reached over 17,500m(2)
net, the largest MODA exhibition yet. The MODA Footwear component accounted for
over 5,000m of the total exhibition.
ITE was due to update the market on current trading at its AGM on 23 February.
However as the two investor events are in the same week, the Board has decided
to issue a trading update today.
Overall, current sales and the trading outlook remain in line with the Group's
expectations and the comments made at the time of the preliminary results in
December 2005. Consistent with this, the momentum seen in 2005 has continued
into 2006 and the three major events that have been held to date during the
current financial year have performed as expected.
• The Kazakhstan International Oil & Gas Conference in October 2005
showed revenue growth of 10% over the 2005 event.
• Ingredients Russia took place in November 2005 and showed revenue
growth of 7% over the 2005 equivalent.
• Kiev Agrihort, acquired in August last year, was held last week in
Kyiv, Ukraine. Under ITE's ownership the event showed good growth on
last year's equivalent and fulfilled expectations.
ITE has recently agreed terms for an additional advance of $2m to facilitate the
third stage expansion of the IEC exhibition facility in Kyiv, Ukraine, and for
the advance of $1.5m to facilitate a further expansion of pavilion space in
Almaty, Kazakhstan. ITE organises events at both venues and, as a result of the
growing demand for its events in these cities, will benefit from the additional
Advance sales for events in the 2006 financial year continue to enjoy growth of
10% on a comparable basis to last year (2005) and as a result, the Board remains
confident of the prospects for 2006.
Ian Tomkins, Chief Executive Tim Spratt/Charlie Palmer:
ITE Group plc Tel: 0207 596 5000 Financial Dynamics Tel 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange