Secondary Recommendation

ITE

February 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

ITE has reported that sales in the (traditionally quietest) Q1 quarter were up by 51% or £10.5m, driven by 17% organic growth (£3.5m) and c.£7m of revenue from events bought last year but run for the first time. Only one of ITE’s Top Ten events ran in the quarter: The Kazakhstan Oil & Gas Exhibition, which grew space sales 9% to 8,500 sqm. Contracted revenue for the full year already stands at £113m or some 67% of consensus expectations whilst strength in the Moscow events market is continuing to spread to other Russia/CIS regions.Singers have a target price of 260p. Keep on buy list. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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ITE