ITE's Q3 trading statement reveals like-for-like revenues down 2%

ITEAs anticipated in the Group’s interim results, the Group experienced a challenging trading environment in its third quarter. Revenues in the three month period to 30 June 2014 were £73m (2013: £96m), reflecting the absence this year of the biennial Moscow International Oil & Gas Exhibition along with continued negative currency movements and the impact of the political crisis on the Group’s Ukrainian business. Overall, like-for-like revenues on a constant currency basis for the third quarter were 2% lower than the previous year (all attributable to the shortfall in Ukrainian revenues) and 16% behind on an actual basis.

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