London, 24th January: Last week, London-based ITE Group plc published its trading update covering the quarter from 1st October to 31st December 2018. The results were reportedly in line with expectations.
Revenues in the quarter were approximately £31.5 million (US$40 million), representing a significant decline from last year’s figure of £40.7 million (US$52 million). The company attributed the decrease to a smaller biennial quarter and the fact that ITE has divested from its non-core events in Russia. ITE’s net debt was about £108 million (US$137 million) as of 31st December 2018.