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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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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.

  • Epic Code:
  • ITE
  • Price:
  • 235p
Revenues in Q1 (ITE's quietest period) rose over 50% to £31m, with organic growth of 17% and the rest (c. £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 £12m, up from £5.5m at the year-end and after spending nearly £6m on acquisitions. Contracted revenues for the full year were £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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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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