ITE preclosing – profits suffer from negative currency effects

ITEITE Group plc is today publishing a pre-close statement ahead of its interim results for the six months ended 31 March 2014 which will be announced on Monday 19 May 2014.

Revenue for the six month period to 31 March 2014 is estimated to be circa £72m, (six months to 31 March 2013: £69m). The revenue for this period reflects a stronger biennial pattern and good trading, off-set by negative currency movements. Like for like revenues over the first six months are 10% ahead of the prior year on a constant currency basis and 2% behind on an actual basis. These factors together with a first-time profit contribution from the recently acquired Chinacoat event which took place in November last year will help the Group produce record profits for the period.

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