ITE Group said first-quarter like-for-like revenues met expectations even as venue capacity constraints at Acetech Delhi, kept a lid on growth.

Revenues on a like-for-like basis were 6% ahead of the comparative quarter reflecting strong underlying trading, partially offset by temporary venue capacity constraints at Acetech Delhi, the company said.

Excluding Acetech Delhi, our like-for-like revenue growth is 10%.

Total revenues for the quarter declined to about £31.5m from £40.7m a year earlier. The decrease was 'largely due to this being the smaller biennial quarter and the absence of the non-core events in Russia, which were divested in early October 2018,' the company said.

The integration of the Ascential Events business was nearing completion and on schedule.

The investment plans to drive growth into 2020 remained on track, 'with a continuing confidence in realising the synergies,' it added.

Forward bookings rose to circa £164m of revenue for 2019, from £113m a year ago.

'The Board is pleased with the Group's performance, which is in line with expectations,' the company said. At 8:50am: (LON:ITE) ITE Group PLC share price was -0.95p at 60.15p