Sign in or Register | Newsletter
 
 
Register today to receive each issue absolutely FREE!




Kate Bishop at LOLA Event Staffing, shares her best practice on...

EN catches up with Interchange MD Phil Vann as the registration,...

Microsoft showcased Bing Pulse at this year’s International Confex,...

Exhibition News May 2015
May 2015

Acquisitions boost declining ITE volume sales
posted on: 11/1/2011 10:11:10

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


Print:
Email:
Share article:

COMMENTS
Would you like to Leave a Comment?

LATEST NEWS
Green event platform Poken has partnered with event industry mobile app leader QuickMobile, the firm announced at IMEX Frankfurt this week.

Anita Lowe’s venue-finding agency, Venues and Events, has agreed a joint venture with design and technology partner Creative Example, which will focus on trialling presentation technology.

Real-time audience insight technology Lumi has formed a strategic partnership with Cint, the global panel marketplace platform provider.

Sustainability Live is to become edie, as part of a major rebrand of the whole energy and sustainability offering, organiser Faversham House announced at the 2015 show.

Tech Fest 2015 unveils speaker line up
posted on: 20/5/2015 10:20:08
Reed Exhibitions’ Sallie Coventry, Ricardo Molina from Brightbull and Miguel Neves, IMEX Group have been confirmed to present keynote addresses at Tech Fest 2015, during London Technology Week.