London, 4th December: International event organiser, ITE Group plc, recently released its financial results for the year ended 30th September 2018. Revenues for the year were £175.7 million (US$229 million), representing growth of 11% on a like-for-like basis. Profit before tax was £35.4 million (US$46 million), compared to £31.6 million (US$43 million) in 2017. In addition, the company’s forward bookings for FY2019 were up 11% on a like-for-like basic.
In Asia, ITE generated revenues of £25.7 million (US$33 million) in the current financial year, which represents an increase of 10% on a like-for-like basis. The company organised a total of 29 events in the region during the year. Overall, ITE had a stronger biennial year with three new launches, which offset the disposal of TradeLink in Malaysia.
In China, ITE continues to maintain offices in Beijing, Shanghai and Guangzhou. Its flagship event, Chinacoat/Surface Finishing China (SFCHINA), was held in November 2017 in Shanghai recording 20% growth reaching sales of over 48,000 m2.