ITE's Performance In-line with Expectations
July 22, 2013
International exhibition organiser, ITE Group plc, released its Interim Management Statement for the three months ended 30th June 2013. Revenues in the period were £95 million (US$145 million), compared with 2012’s £76 million (US$116 million). The group attributed part of the increase to its biennial event, Moscow International Oil & Gas and revenues from Metaltech, acquired in January 2013. Excluding these effects, like-for-like revenues in the quarter were up 8% over the previous year.
In the quarter, ITE also acquired 50% of ECMI in Malaysia for an initial consideration of US$2.6 million and a deferred consideration of US$1.4 million. The group also holds options to acquire additional equity in 2017 and 2019.
The Malaysian subsidiary of ITE Group, ECMI ITE Asia, announced it will launch a new Cosmobeauté exhibition in Myanmar. The professional beauty industry event is currently held in Malaysia, Indonesia and Vietnam.The new Myanmar edition will be held at the Myanmar Convention Center in Yangon from 6th to 8th June 2014.
The recently concluded Cosmobeauté Malaysia took place from 15th to 18th July at Putra World Trade Centre (PWTC). The event showcased more than 320 exhibitors and is expected to welcome about 20,000 visitors.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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