News this week: International exhibition organiser, ITE Group plc, released its Interim
Management Statement for the three months ended 30th June 2013.
Revenues in the period were £95 million (US$145 million), compared with 2012’s
£76 million (US$116 million). The group attributed part of the increase to its
biennial event, Moscow International Oil &
Gas and revenues from Metaltech, acquired in January 2013. Excluding these
effects, like-for-like revenues in the quarter were up 8% over the previous
year.
In the quarter, ITE also acquired 50% of ECMI in Malaysia
for an initial consideration of US$2.6 million and a deferred consideration of
US$1.4 million. The group also holds options to acquire additional equity in
2017 and 2019.
The Malaysian subsidiary of ITE Group, ECMI ITE Asia, announced
it will launch a new Cosmobeauté
exhibition in Myanmar. The professional beauty industry event is currently held
in Malaysia, Indonesia and Vietnam.
The new Myanmar edition will be held at the Myanmar Convention Center in Yangon
from 6th to 8th June 2014.
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