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.”
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