Shares of ITE Group (LSE: ITE) lifted by more than 6% in early trade after the company, which organises trade exhibitions and conferences, said that strong performance in Q4 will result in full year pre-tax profit arriving ahead of the current consensus.
ITE put on 38 events in the three months to 30 September with revenue increasing to £29m from £27m a year earlier. Two highlights for the firm were the World Food exhibition in Moscow and the MODA fashion show at the NEC in Birmingham.
The company has already booked £60m of revenue — around a third of current market expectations — for the 2015 financial year. In less upbeat news, currency headwinds could put pressure on earnings in 2015 unless Russia’s Ruble and the Euro rebound from current levels.
Economic sanctions imposed by the West have yet to have a direct impact on ITE’s Russian business, but in the future could weigh more heavily. ITE said:
“The group will continue to monitor the situation … and will take appropriate steps to protect its margins.”
After spending £50m on acquisitions during 2014 ITE Group had net debt of £15m as of 26 September. ITE will make its preliminary results announcement on 2 December.
Markets around the world are reeling from the coronavirus pandemic…
And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.
But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times.
Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down…
You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm.
That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away.
Mark Stones has no position in any shares mentioned. The Motley Fool UK has recommended shares of ITE Group. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.