Sign in or Register
 
 
Exhibition News Race Day
Register today to receive each issue absolutely FREE!


Business Development Manager
London

Head of Sales and Events
Harrogate International Centre

Event Manager
Nottingham

Sales Executive
London



Food show win spurs HIC Yorkshire's plans for growth...

Lewis Field, head of design at exhibition stand builder Nimlok...

The Old Granada Studios in Manchester have been revamped into an...

Exhibition News September 2014
September 2014

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
Reed Exhibitions has appointed Chet Burchett as chief executive officer, effective January 2015.

Record attendance at Insomnia52 gaming event
posted on: 2/9/2014 10:20:13
More than 30,000 people, a best ever for the event, visited the UK’s largest gaming festival at the Ricoh Arena.

Scotland’s Trade Fair Spring is anticipating 450 exhibitors for its next exhibition in January 2015.

Organiser of the inaugural The Venue Expo, UKFE, has announced the 2015 edition of the show is to relocate to the Exhibition Centre Liverpool.

A team of Business Design Centre (BDC) staff has raised more than £29,000 for the charity Islington Giving after a six-day bike ride from Newcastle to the north London venue.