ITE Group Plc (ITE.L) provided its interim management statement for the period from October 1, 2011 to January 26, 2012, incorporating the Group's first quarter trading period from October 1, 2011 to December 31, 2011.
The company stated that its trading has been in line with management expectations for the first three months of the financial year. Revenue for the three-month period rose to 31 million pounds from 20.5 million pounds in the prior year. On a like-for-like basis, revenues for the quarter are ahead of the comparative period by 17%.
Further, the company said its balance sheet remains strong with net cash at January 22, 2012 of around 12 million pounds.
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