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ITE - Falling rouble puts pressure on shares

March 2014

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.

The strengthening of Sterling from 47 to 57 Russian roubles over the past 12 months probably explains the recent weakness in the shares. The negative currency swing has meant that like-for-like sales for the first quarter grew 10% to £36.3m but would have been 15% higher on a constant currency basis. Nevertheless this is ITE's smallest quarter with the only leading event being the recently acquired Chinacoat exhibition. The outlook remains strong with forward contracted revenues 11% higher than the same period a year ago on a constant currency basis or 2% ahead on an unadjusted basis. ITE's shares have had a historic tendency to track the rouble both up and down, given that Russia is its lar ...

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Crest Nicholson - Capacity being increased

Big Yellow - Shares smash through Â£5

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 - One of Numis' key picks for 2012 (March 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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