Share Name Share Symbol Market Type Share ISIN Share Description
Ite Group Plc LSE:ITE London Ordinary Share GB0002520509 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 82.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
82.30 82.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 175.67 -3.68 -1.60 612
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 82.50 GBX

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Ite Daily Update: Ite Group Plc is listed in the Media sector of the London Stock Exchange with ticker ITE. The last closing price for Ite was 82.50p.
Ite Group Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 741,618,456 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Ite Group Plc is £611,835,226.20.
allonblack: I bought in here at 77p. Fundamentals of the biz are on fire and imo we are looking at 10p a share of cash in a year or two making it a steal here. Recent mgt presentations have won people over towards that view so buyers turning up in size i reckon. Only problem has been brandes and their blinkered view that the Ascential purchase was reducing em exposure (they objected to the deal). Hence the announcement a month ago. So they might be letting more shares go is my point. Share price has roofed it from 73p to 82p in a few weeks however and imo that is the base of a much bigger move up.
topvest: With Tarsus gone, I believe that this is the only pure play exhibitions company remaining with a listing. That could help put ITE in the spotlight I suppose.
topvest: Things are definitely improving. Unfortunately, the takeover last year wasn't a good deal for existing shareholders. 5p EPS is way below 10p EPS in 2014 and probably double that again in earlier years. It was a very dilutive deal. They paid a very high price for a quality asset using discounted ITE equity. That will continue to haunt ITE for many years to come. A hold for me, but definitely not buying any more!
rndm355: ITE mentioned here: hTTps:// "Official forecasts suggest that EPS of 4.9p can be achieved this year, rising to 5.4p next year. That’s quite nice against a 70p share price (though don’t forget that it’s using a meaningful amount of leverage)."
topvest: With Tarsus being bid for on Friday, then 2 of the 3 listed exhibition group's have succumbed to takeover offers in a year. ITE now becomes the only real option. Should help the rating here I guess.
topvest: Headline profit was £35m which is ok. Profits are messy due to the amortisation of intangibles. I didn't like the rights issue, but they are now in a better shape overall. Its just that the share price has been diluted by 50%!
cantrememberthis2: I've had email comma from board last night and today. They are closely monitoring share price. They are unable to comment during rights issue subscriw period. Its being shorted regardless of sells... This will lift as nothing goes down in a straight line. Underwriters will pick these up cheaply as the nil pairs are getting worth less... Seen this way too often. I've been adding.
cantrememberthis2: Share Price has been shorted IMO by the 35% who voted deal down. Spite their own face then. Idiots. Trading under TERP is not uncomomon... as if brokers and hedgies cant see the nil paids.... course they can IMO. Being was Capita, PFG, etc etc. Ill keep adding. £62.5m projected profit with a little premium here is 100p.
cantrememberthis2: Reducing Russian exposure from 47% to 31% is NOT a BAD THING Also more news coming:ITE On 15 May 2018, ITE announced its interim results for the six months ended 31 March 2018, demonstrating a strong overall trading performance. This was the first period of like-for-like growth in both yield and volume since 2014 and these results reflect revenue growth in the majority of ITE's markets as a result of early TAG Programme initiatives and focus on Core events. ITE's TAG Programme is delivering early benefits with improved financial performance from core events delivering like-for-like volume, revenue and headline profit before tax growth for the first time in four years. Cash conversion remains strong and the Group enters the second half with high visibility of revenues having contracted £143.5 million of revenue for the current financial year as at 11 May 2018, representing approximately 89 per cent. of market expectations for the full year. As a result of a focus on forward bookings, the Group has also already contracted £31 million of forward bookings for the year ended 30 September 2019, representing approximately 19 per cent. of consensus revenue. This is up approximately 31 per cent. on a like-for-like basis and the improved level of bookings partly reflects the ITE's focused sales initiatives on Core events, in line with its strategy. The like-for-like growth and cash conversion have allowed management to invest £1.5 million more in future period events than at this stage last year. There has been no significant change in the current trading and prospects of ITE since 31 March 2018.
topvest: Well that's very interesting. 35% of votes were cast against the acquisition and rights issue. I'm inclined to agree that this was a bad deal for existing shareholders. We have been forced to put more money in at an absurdly low price which undervalues the existing business by an enormous amount. The acquired business may be good, but we have given our original business away. All smack of an empire build, re-set policy from a new baseline of £1. I will take up the rights issue as I have little choice, but I would be interested to hear why they thought this was such a good deal. To me it looks like they struggled to get the support from institutions for the rights issue and had to drop the price and terms accordingly. The share price indicates that there may be a large block of shares being sold out, so not great!
Ite share price data is direct from the London Stock Exchange
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