October 3, 2016 / 7:31 AM / 10 months ago

BRIEF-ITE Group says attempted coup in Turkey negatively impacts business

2 Min Read

Oct 3 (Reuters) - ITE Group Plc :

* Update for year ended 30 September 2016, prior to entering its close period and ahead of its preliminary results announcement on 29 November 2016.

* Revenues in three month period to 30 September 2016 were circa 23 mln stg (2015: 23 mln stg)

* Group's performance in Q4 was broadly in line with management expectations

* As expected, on a like-for-like basis revenues are down by 8 pct, as impact of difficult economic conditions in our core markets continue to be reflected in our results.

* Group has benefited from sterling weakness since June on translation of overseas revenues

* Attempted coup in Turkey in July has negatively impacted our September events in region.

* Management expectations for full year remain unchanged with revenues for fy 2016 expected to be circa 133 mln stg (2015: 136 mln stg).

* Improvement in relations between russia and turkey is a positive development but we do not expect to see benefits of this to materialise until 2018. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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