News this week: London-listed ITE Group
recently posted an interim financial update for the six months ending 31st
March 2013. The company reported revenues of £69.4 million – up 8% on a
like-for-like basis compared with the same period in 2012. As of 17th
May 2013, the group reported booked revenues of £174 million for the current
financial year, compared with £156 million in 2012.
ITE reported strong cash generation during the financial
period with net cash available of £21.7 million. The company completed three
Asian acquisitions: ABEC in India (28.3%) and Trade-Link (75%) & ECMI (50%)
in Malaysia, as well as the exhibition assets of Australia-based Baird Maritime for £400,000 in January
2013.
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