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06 December 2005
Preliminary Results Announcement

Highlights
  Year ended 30 September 2005 Year ended 30 September 2004 % change
Turnover £78.5m £60.8m 29%
Profit before tax £23.0m £15.7m 46%
Headline pre-tax profit* £26.0m £18.1m 44%
Diluted earnings per share 5.5p 3.8p 45%
Headline diluted earnings per share** 6.6p 4.7p 40%
Dividend per share 2.75p 2.2p 25%
       

• Strong growth in core markets
• Headline pre-tax profits up 44% to £26m
• Good contribution from biennial Moscow Oil and Gas exhibition and the one-off World Petroleum Congress
• Headline diluted earnings per share up 40% to 6.6p
• Total dividend increased by 25% to 2.75p per share
• Recent acquisitions successfully integrated and benefiting from ITE ownership
• £37m of cash returned to shareholders through share buy back and dividends


Commenting on the results, Iain Paterson, Chairman, said:

“ITE’s performance during the year confirms the strength of our business and the growth potential in our markets. During the year the core business grew strongly. In addition we benefited from one-off and biennial exhibitions. We continue to demonstrate our ability to grow our leading events, launch new exhibitions and integrate bolt-on acquisitions.

“The Group’s focus on emerging and developing markets provides many opportunities and ITE, with its strong and established presence in its key markets, is well placed to continue to capitalise on them. The momentum we have seen in 2005 has continued into the current financial year and the business is performing in line with our expectations. We are confident of the prospects for 2006.”


* Headline pre-tax profit is defined as profit before tax, amortisation and impairment of goodwill (including associates) and profits or losses arising on disposal of group undertakings - see the Profit and Loss Account for details
** Headline diluted earnings per share is calculated using profit before amortisation and impairment of goodwill (including associates) and profits or losses arising on disposal of group undertaking
s.

Download Full Preliminary Results


Enquiries:

Ian Tomkins ITE Group PLC 020 7596 5000
Charles Palmer/Tim Spratt Financial Dynamics 020 7831 3113


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