London, 3rd July: Earlier this week, London-listed ITE Group plc released its trading update for the three-month period from 1st April to 30th June 2019.
Revenues for the nine months ended 30th June 2019 were £176 million (US$224 million), representing an increase of 7% on a like-for-like basis. While revenues for the quarter ended 30th June were about £69 million (US$88 million), compared to the £58 million (US$74 million) recorded last year. ITE’s management attributed the increases to improvements related to its top 10 portfolio of events and to the positive impact of new acquisitions.
As of 30th June, ITE’s net debt was about £116 million (US$147 million). Management noted that it continues to pursue its “TAG” (Transformation and Growth Programme) corporate strategy.
Source: ITE announcement