WORLD - UK-based exhibition organiser ITE Group has said its third quarter trading is in line with management expectations, following the group’s operations expansion into new markets.
In an interim management statement, which covers trading for the period from 1 April 2013 to 15 July 2013, the group said its booked revenues for the current financial year are £184m (US$277m), compared to £164m in 2012. “This represents approximately 98 per cent of the consensus revenue expectations for this financial year,” said a spokesman from ITE.
The group said revenues booked for the third quarter of the year are eight per cent ahead on a like-for-like basis, with contributions from the biennial Moscow International Oil and Gas exhibition along with Metaltech in Kuala Lumpur, Mayalsia.
ITE Group has further expanded its Southeast Asian event portfolio, with the launch of Cosmobeauté in Myanmar, aimed at the professional beauty industry.
News of the launch follows the group’s partnership with Malaysian-based ECMI Trade Fairs (ECMI) in April, to develop new and existing exhibitions in the Asean region, including ECMI’s Asean professional beauty event series Cosmobeauté.
“Cosmobeauté is a well established exhibition in Southeast Asia and the conditions are right for this launch to be very successful in Myanmar,” said ITE Group’s CEO, Russell Taylor. The new event will be held at the Myanmar Convention Centre, Yangon from 6 to 8 June 2014.
“Year to date, the group has delivered good organic growth supplemented by the continued investment in new businesses which extend the group’s reach into new emerging markets,” said the spokesman. “The group continues to experience good trading conditions in its principal markets and the board remains confident in the full year outcome.”
Do you have a news story for Exhibition World? Email abyrne@mashmedia.net
