Acquisitions boost declining ITE volume sales

Twitter Facebook Google+ LinkedIn
International exhibition organiser ITE has reported an increase in overall volume sales of almost 70,000sqm due to recent acquisitions this year despite continuing decline in the company’s core of pre-existing shows. In 2010, ITE acquired new shows in Turkey, an exhibition company in India and a portfolio of Aquatherm events in Ukraine and Central Asia. These buoyed the company’s overall sales, despite a 29 per cent decline in its pre-acquisition portfolio since 2008. Although the group’s actual revenue (£113.5m) was down by around six per cent compared to 2009 like-for-like, the impact of the recession combined with the biennial pattern of the Moscow International Oil and Gas event – which did not take place in 2010 – accounted for a £10m reduction in revenues. Also, a favourable exchange rate helped the company’s revenue figures in pounds sterling. “What we saw last year was a decline mostly in the first half of the year,” ITE chief financial officer Neil Jones told EN, “but that was offset by the acquisitions – such as in Turkey and Ukraine – and the biennial shows.” He added that 2011 will be the stronger financial year in ITE’s biennial cycle. “The key is that having replaced the volumes through acquisitions, the existing core portfolio is starting to grow. They are already rebounding and we have made that clear to our investors,” he continued. ITE Group also acquired international exhibition company MVK in December 2010. Questions, comments or tips? Email exhibitionnews@mashmedia.net
Twitter Facebook Google+ LinkedIn

Related Stories

AEV publishes Size and Scale Index of Events

The Size and Scale Index of Events (SASiE) has published its latest report analysing the data collected over 2015 from the participating venues and organisers.

SMG Europe appointed operator of AECC

Aberdeen City Council has appointed venue operator SMG Europe to manage the existing Aberdeen Exhibition and Conference Centre (AECC) ahead of the move to its new purpose-built home in 2019.

And that’s a wrap!  

The EN Awards are over for another year. Awards were won, achievements were recognised and booze was drunk, not necessarily in that order.

Elsewhere on EN

Entry is open for EN30/30 2017!

Entry is open for EN30/30 2017!

Nominations for this year’s EN Thirty Under 30 are now open, as EN looks to recognise the most talented individuals involved in the exhibition industry aged under 30.
GES to tackle charity bike race

GES to tackle charity bike race

Over the bank holiday weekend nine GES employees will be attempting to cycle the 350 miles from Amsterdam to Coventry in aid of the Help Harry Help Others charity.
Thorns secures Boat Show contract

Thorns secures Boat Show contract

Nationwide events and exhibitions hire contractor Thorns has secured a new three-year contract with Britain’s biggest boating festival, Southampton Boat Show.

EN Awards Highlights

silverstream.tv

Most read Stories

And the #ENAwards finalists are…

And the #ENAwards finalists are…

The countdown timer has run out. After weeks of companies submitting award entries and sweating over it, there is just one thing left to do before the big night: Announce the shortlist.
RDS launches RDS Venue brand

RDS launches RDS Venue brand

Philanthropic organisation the Royal Dublin Society (RDS) has announced that RDS Venue will be launched as a separate visual identity from the main RDS brand.
EN Awards People Finalists revealed

EN Awards People Finalists revealed

The first group of the highly anticipated shortlist for the EN Awards has been announced, including Best Newcomer and Best Event Director categories.

Latest Features

Students: Pests or guests?

Students: Pests or guests?

It’s a question all organisers have to address – what should my show’s relationship with students look like?
Flying the nest

Flying the nest

Ever thought about going freelance? Do you have what it takes to go solo? Three event professionals tell EN their stories of building their own businesses.
Spreading the word

Spreading the word

With Global Exhibitions Day just a couple of months away, EN asks what three global exhibition associations are doing to celebrate this year.

Latest Galleries

drp's Interactive Expo

drp's Interactive Expo

drp worked with The British Army in Education to produce an interactive exhibition stand at the national Big Bang UK Young Scientists & Engineers Fair on 15-18 March 2017 at the NEC.
Grand Designs Live 2017

Grand Designs Live 2017

The 13th edition of Media 10’s Grand Designs Live returned to ExCeL London from 29 April to 7 May, featuring more than 500 exhibitors across six key sections. Grand Designs star Kevin McCloud one again hosted the nine-day exhibition.
Insomnia60

Insomnia60

Over 50,000 video game fans from across the country descended on Birmingham’s NEC on 14-17 April for Insomnia60, the UK’s largest gaming festival.

Latest Opinions

Show or tell?

Show or tell?

Roopi Woodall, marketing manager at the QEII Centre, asks if the art of conversation on social media is dead – and how to engage with audiences if that’s the case.
You get what you ask for

You get what you ask for

Sue Berry, managing director at TimelessTime Ltd, discusses the importance of people metrics and measurable objectives.
The Anti Cyber Attack Checklist

The Anti Cyber Attack Checklist

Following the global cyber attack on 12 May, event tech supplier RefTech has compiled a checklist for individuals and companies to follow to help them reduce the risk of future attacks.