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British ITE Group Foresees Losses Next Year Over Sanctions and Weak Ruble

ITE Group Plc is one of the world’s leading organisers of international trade exhibitions and conferences.

ITE Group Plc, a trade exhibition and conference organizer, said its booked revenue for next year was lower than a year earlier and that sanctions imposed on Russia and the weakening of the ruble would hurt it next year.

ITE, which earns about 70 percent of its revenue in rubles and euros, said that, as of Nov. 27, it had booked revenue of 81 million pounds ($127 million) for 2015. This was about 17 percent lower than the same time a year earlier on a like-for-like basis.

The company reported a 5.46 percent fall in pretax profit for the year ended Sept. 30.

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