Secondary Recommendation

ITE - One of Numis' key picks for 2012

March 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.

Revenues in Q1 (ITE's quietest period) rose over 50% to Â£31m, with organic growth of 17% and the rest (c. Â£7m) from events bought last year. Only one of its top ten events was held in the period, with the Kazakhstan Oil & Gas Exhibition growing space sales by 9% to 8,500 sq. metres. Net cash was Â£12m, up from Â£5.5m at the year-end and after spending nearly Â£6m on acquisitions. Contracted revenues for the full year were Â£113m (up 8% like-for-like over last year) and represent c. 67% of current year market expectations.Numis has left forecasts unchanged (eps: 16.6p, rising to 18.7p in 2013) while its price target is 288p. With ITE's demand outlook very positive the broker reiterates ...

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Hunting - Supplier of down-hole products for oil wells seeing explosion in demand

Scapa - Industrial tape firm expanding into higher margin medical markets

ITE - Falling rouble puts pressure on shares (March 2014)

ITE - Forward orders cover 54% of forecast 2014 revenues (February 2014)

ITE - Q3 revenues rise 25% (October 2013)

ITE Group - Shares have gained 76% (July 2013)

ITE Group - Passage to India (January 2013)

ITE Group - 96% forecast revenues booked (September 2012)

ITE - Forward PE now just 11.1 (July 2012)

ITE - Another eps upgrade leaves shares looking cheap (January 2012)

ITE - Outlook still very stong (November 2011)

ITE - Events firm trading on low PE (October 2011)

ITE - Very strong Q3 trading (September 2011)

ITE - Strong recovery in Moscow market (July 2011)

ITE - Q1 sales up 36% (March 2011)

ITE - Acquistion triggers another surge (February 2011)

ITE - Significant broker upgrades (January 2011)

ITE - Strong update as expected (November 2010)

ITE - Russian exhibitions organiser on brink of strong recovery (October 2010)

ITE - Russian events on verge of strong recovery (September 2010)

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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