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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Secondary Recommendation

ITE - Forward PE now just 11.1

July 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:
  • 184.5p
A continuation of improving trends in its core Russian markets alongside a contribution from recent acquisitions led to strong interim results for business events operator ITE. These showed an 80% rise in pretax profit to £6.3m in the six months to 31 March on turnover that rose 29% to £68.6m, with acquisitions accounting for £11.6m of that. Eps increased 43% to 4.3p while net cash as at 16 May was £10.2m. Total volume of space sold increased 30% to 367,900 square meters with like-for-like volumes increasing 12% and sales 9%. In terms of the largest events held in the period, Moscow International Travel & Tourism declined slightly but there was good growth from Kazakhstan Oil & Gas, Aqua-Therm Moscow and two biennial e ...

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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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