Results are in line with management expectations
Acquisitions drive the geographical diversification of the Group
Strong operating performance from Asia
Trading environment in Russia has now stabilised
Interim dividend maintained
Confidence in full year outcome with 91% of revenues for 2015 now contracted
Russell Taylor, CEO of ITE Group plc, commented:
"ITE has delivered a good first half performance despite a challenging trading environment in the Group's largest market. The recent acquisitions of Eurasia Rail in Turkey, Africa Oil Week in South Africa and Breakbulk's series of events have helped to diversify the Group's presence outside Russia, and our businesses in Asia and Turkey continue to perform well.
"Looking forward, the trading environment in Russia has now stabilised and our recent acquisitions are performing in line with expectations. ITE remains in a strong financial position and we continue to seek opportunities to expand the business that are consistent with our strategy of building market leading positions in higher growth markets. The Group enters the second half with good visibility on current year bookings and the Board has confidence in the full year outcome."