ITE Group chairman Marco Sodi has stepped down due to increasing business commitments elsewhere.

Sodi has stepped down as chairman with immediate effect and will retire from the board on the 11 October.

Non-executive director Neil England will be chairman during the search for Sodi's successor.

The group also issued a trading update and said that its performance for the three months to the end June was in line with management expectations.

Revenue for the period was circa £58m (three months to 30 June 2016: £46m).

On a like-for-like basis, revenue for the period was 9% ahead of the comparative period.

It said a strong performance from Moscow during the period had been partially offset by continued weaker performance from some other regions and in particular, as expected, Turkey.

For the nine months to 30 June, revenue was 4% ahead of the comparative period on a like-for-like basis.


At 9:47am: (LON:ITE) ITE Group PLC share price was +9.5p at 161.5p