Friday, December 06, 2013

ITE Group reports strong revenue growth

News this week: Earlier this week, the ITE Group reported its results in the first nine months of 2013. Revenues were £192.3 million. That is a 12% increase compared with the same period in 2012 when the Group’s revenues were £172.3 million.

Profit before tax increased from £40.5 million to £43.9 million in the same nine-month period. Additionally, cash on-hand jumped from £13.0 million last year to £23.5 million as of 30th September 2013.

ITE Group’s CEO, Russell Taylor commented, “We have now firmly established ITE in the Asian exhibition markets through investments in ABEC in India, Tradelink and ECMI in Malaysia and SinoStar in China. When we acquired 50% of ECMI Trade Fairs earlier this year, we wanted to develop new exhibitions in the ASEAN region, so we are using this as a launch engine particularly in the emerging Indonesia, Vietnam and Myanmar markets.”

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

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