Events company ITE Group said Wednesday it expected revenue would be ahead of the prior year as transformation initiatives boosted growth in the company's key markets.

For the year ended 30 September 2018, the company said revenues were expected to come in at about £175m, up from £153m, or 10% on a like-for-like basis.

ITE Group downplayed the impact of further sanctions in Russia affecting performance in the country, as the company's decided to move Mosbuild and World Food Moscow to the Crocus Centre to provide additional capacity to accommodate further growth.

Recent adverse currency movements, meanwhile, particularly in the Russian ruble, Brazilian real and Turkish lira, had not significantly impacted the full-year 2018 results, but were likely to have an impact going into the next financial year, the company said.

The company said construction of a new exhibition hall on the site of the existing Delhi venue, adding circa 100,000 square metre of space, had commenced with an estimated completion date of April 2019.

The construction was expected to benefit the company's space-constrained shows in 2020, particularly Acetech Delhi and Paperex.

In separate statement, ITE said it had entered into an agreement to acquire the business and assets relating to Mining Indaba from Euromoney Institutional Investor Plc for £30.1m.

The acquisition was expected to complete by the end of October 2018.

At 8:01am: (LON:ITE) ITE Group PLC share price was -2.15p at 73.05p