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ITE says Q4 bookings hurt by Turkey coup attempt
October 3, 2016 / 7:26 AM / a year ago

ITE says Q4 bookings hurt by Turkey coup attempt

Oct 3 (Reuters) - Exhibition organiser ITE Group Plc said on Monday that the attempted coup in Turkey in July had “significantly affected” international travel to the country, hurting the company’s bookings on Turkish events.

ITE reported an 8 percent fall in like-for-like revenue in its fourth quarter ended Sept. 30, despite recording benefits from the post-Brexit weakness of the pound.

Revenue for the period remained flat at 23 million pounds ($29.63 million).

ITE maintained its full-year 2016 revenue forecasts at 133 million pounds and added that it expected to see material benefits from the improvement in relations between the Russian Federation and Turkey from 2018. ($1 = 0.7762 pounds) (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair)

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