WORLD - Exhibition and conference organiser ITE Group says its revenues in the three month period to 30 June 2010 were £55.6m, in line with the Group’s expectations, and down from £58.9m in 2009.
The results do not include a contribution from the biennial Moscow International Oil and Gas exhibition, but do include the results of the recently acquired Aqua-Therm Kiev exhibition.
“The Group’s third quarter is the most important in revenue and profit terms as it includes five of ITE’s 10 largest events and accounts for over half of the year’s revenues,” the company says in a statement.
“The late cycle nature of the exhibition industry has resulted in most of our major events in this quarter reporting volume decreases as a result of the recessionary environment affecting trading conditions for most of last year,” it continues.
