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ITE - Targeting event aquisitions in Malaysia

June 2013

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.

  • Epic Code:
  • ITE
  • Price:
  • 293p
ITE vindicated our decision to make them one of our NAPs in the January issue by releasing excellent interims, taking the shares over £3. It wasn't the numbers themselves - ITE has already said that its biggest events will be bunched into H2 - but the fact that ITE said it has seen 10% organic revenue growth during H1. Full year bookings also stand at a high level for this stage in the year - some £174m, or up 8% like-for-like.  During H1, there were some 109 events held giving rise to sales of £69.4m (up 1%) with pretax profits of £11.1m but these would have been £7.5m and £3.6m higher respectively were it not for the absence of certain biennial events/ other event timing issues. Adjusting ...

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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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