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

Elsewhere on EN

Revenue rise for Ascential since IPO

Revenue rise for Ascential since IPO

Events and publishing group Ascential plc has had a ’a good year with strong organic growth’, driven by the launch of new products.
Record breaking 2016 for Event Marketing Solutions

Record breaking 2016 for Event Marketing Solutions

Global roadshow specialist Event Marketing Solutions (EMS) has announced a record-breaking financial year, with profits reaching £1.04m for the year ending December 2016.
VisitBritain launches new Business Events @ExploreGB event

VisitBritain launches new Business Events @ExploreGB event

VisitBritain has announced the launch of a one-day event, to promote Britain as a business events destination to international buyers.

CONFEX LIVE

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.
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.
Reactions from events industry following Britain’s vote to leave EU

Reactions from events industry following Britain’s vote to leave EU

As the UK has voted to leave the European Union with a 52 per cent majority result, EN has spoken to members of the exhibition and events industry, to gauge their initial reactions on the future of the UK and their businesses.

Latest Features

Come to Confex and be inspired

Come to Confex and be inspired

The exhibition and events industry is all about the power of face-to-face, the art of exhibiting and networking with old friends and new, which is why EN would like to personally invite you to attend International Confex to learn more.
When is the right time?

When is the right time?

It’s all very well having a successful show, but how do UK exhibition organisers replicate their success across the country and overseas? Three event profs share their experiences
Stand and deliver

Stand and deliver

When it comes to exhibition stands, the only limits are the exhibitor’s imagination (and floor space and budget), three stand building firms tell EN.

Latest Galleries

100% Optical 2017

100% Optical 2017

More than 8,000 visitors arrived at ExCeL London on 4-6 February for the fourth edition of 100% Optical. The show featured more than 175,000 frames, catwalk performances and a comprehensive education programme.
Cumbria Flood Expo 2017

Cumbria Flood Expo 2017

The inaugural Cumbria Flood Expo, organised by flood emergency response charity CERT UK, took place on 2-3 February at Carlisle Racecourse.
Mexia Communications at 10

Mexia Communications at 10

PR and content marketing agency Mexia Communications celebrated its 10th anniversary with a Mexican Fiesta at the Royal College of Physicians on 26 January.

Latest Opinions

Good practice with data

Good practice with data

Simon Clayton, chief ideas officer at RefTech, on being open, transparent, and accurate about what you are doing with the data you handle.
Beware of the punter

Beware of the punter

Trevor Punt, managing director of TBG Group, on the rise of the stereotypical punter and the need for nerves of steel.
Peer to peer

Peer to peer

Will Broadfoot, director of Footfall Events & Marketing on unlocking exhibitor potential and improving participation.