ITE Group’s CEO Mark Shashoua has told EW that it is entering 2018 with ‘good visibility’
Shashoua said that the Group’s three-year Transformation and Growth (TAG) programme, announced in May 2017, has shown signs of success.
“The TAG programme was a review of our entire business by function and geography, examining where to take the business. We were previously focused on a decentralised model, targeting emerging markets. Now we’re more product-led. We are no longer market share driven. We now focus on market leading shows. While previously we were reliant on acquisition, we are now striving for organic led retention.”
ITE Group reported revenue of £152.6m, up five per cent on a like-for-like basis for the first time in four years. The organiser also reported a profit before tax of £31.6m. Shashoua added: “I am pleased to report that ITE has posted like-for-like revenue growth of five per cent after three years of difficult trading. On our top ten events, we have driven like-for-like top line growth of 15 per cent.”
“Our next financial year is underpinned by good visibility with circa £98m of forward bookings, up 20 per cent on last year on a like-for-like basis. ITE is well placed to realise its vision of creating the world’s leading portfolio of content-driven, must-attend events that deliver an outstanding experience and ROI for our customers.
“A fast pace has been set in the last year which we look forward to continuing into 2018 and beyond.”
