ITE Group sees FY above forecasts

LONDON (SHARECAST) – Exhibitions organiser ITE Group expects full-year revenues to be ahead of most forecasts following good trading conditions in the second half of the financial year. Good trading conditions were seen throughout Russia and the CIS territories, ITE said. “Like for like sales and revenues growth in the second half has been more than 10% over the comparable period last year and as a result full year revenues are now expected to exceed consensus forecasts by 2-3%,” the group said in a trading update. Chief Executive Officer Ian Tomkins said, “The second half of the year reflected continued good trading across our core markets in Russia and Central Asia.” He added, “The Construction and Oil and Gas sectors were particularly strong. We are also very pleased with the results of our efforts in re-positioning the Moscow International Motor Show this year, and with the recently announced co-operation agreement for the launch of Automechanika Moscow with Messe Frankfurt.”