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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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ITE - Another eps upgrade leaves shares looking cheap

January 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.

  • Epic Code:
  • ITE
  • Price:
  • 199p
Our main write-up on Russian business events organiser ITE three issues ago at 182p looks well-timed with the shares powering up to 218p at one point. The catalyst was final results, which showed a near 40% jump in sales to £155m, while underlying pretax profit before goodwill amortisation rose 40% to £51.4m. Eps increased 43% to 16.6p, while net cash fell from £23m to £5.5m, but only after spending £50m expanding its events portfolio. As we predicted, ITE has benefited from a sharp recovery in its core Moscow events market with overall volumes of space sold inc ...

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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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