- ITE Group said Tuesday underlying annual profits grew 12% as its transformation and growth programme continued to improve performance.

For the year ended 30 September 2018, underlying pre-tax profit rose 12% and revenue increased by 11% on a like-for-like basis.

The company attributed the performance to the 'positive impact' from the transformation and growth programme launched last year, which had enabled organic growth in its key events.

The statutory loss, which included amortisation of intangible assets, transaction costs and costs associated with the transformation programme, widened to £3.7m from £3.2m a year earlier.

The full year dividend proposed was 2.5p a share, in-line with last year.

ITE said it remained positive on the group's future growth prospects and confirmed current trading was in line with the management's expectations.

At 9:23am: [LON:ITE] ITE Group PLC share price was +0.25p at 61.35p

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