Trading Update: Q3 FY2018

ITE is today publishing a Trading Update for the period from 1 April 2018 to 10 July 2018.

Revenue for the period was around £58m - 13% ahead of the comparative period on a like for like basis. This was driven by strong underlying trading - particularly for the four top 10 events that took place in the quarter, which all delivered double-digit revenue growth.

The update also covers the acquisition of the Ascential Events business, part funded by a circa £265m rights issue. This acquisition is due to complete on 17 July 2018.

The TAG programme is also going to plan, with continued roll-outs of Event Best Practice Blueprints and disposal of 3 non-core events and the Malaysian subsidiary Trade Link, the organiser of the metalworking exhibition Metaltech which would have taken place under ITE ownership in May 2018.

Overall, the Group had booked circa £153m of revenue for the nine months to 30 June 2018 (30 June 2017: £145m).

To read the full update, please click below.

ITE Group Trading Update Q3 FY2018

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