ITE full-year profit rises on third-quarter boost
Dec 3 (Reuters) - Exhibitions organiser ITE Group Plc reported a 12 percent rise in full-year profit as contribution from acquisitions and a jump in third-quarter revenue boosted the second half.
Headline profit before tax, in the year ended Sept. 30, rose to 59.4 million pounds ($97.21 million) from 53 million pounds a year earlier. Revenue rose 12 percent to 192 million pounds.
For the full-year 2014, ITE said it booked revenue of 106 million pounds as of Nov. 30, representing about 55 percent of market expectations.
ITE had reported a 25 percent rise in third-quarter revenue in July, helped by contributions from the biennial Moscow International Oil & Gas exhibition and revenue from the acquisition of an event organiser in Malaysia.
Shares in the company closed at 294.7 pence on Monday on the London Stock Exchange.
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