London, 15th May: This week, international event organiser, ITE Group plc, released its interim results for the six months ended 31st March 2018. Revenues for the period were £75.4 million (US$106 million), representing growth of 8% on a like-for-like basis. Profit before tax was £16.0 million (US$22.4 million), compared to £15.4 million (US$21.6 million) in the first half of the previous year. In addition, the company’s forward bookings for FY2019 were reportedly up 31%.
In Asia, ITE generated revenues of £16.6 million (US$23 million) in the period, which represents a modest increase of 1% on a like-for-like basis. According to the company, India recorded a strong half-year, where construction event, Acetech Mumbai, increased 4% in terms of its net size. Also in the period, ITE sold its Malaysian business, TradeLink ITE, to UBM Asia for £4.2 million (US$5.9 million).