(Reuters) - ITE Group Plc (L:ITE), a trade exhibition and conference organiser, said full-year like-for-like volumes sales in its biggest market Russia were running 20 percent less than this time last year, hurt by the fall in oil prices and a weak rouble.
ITE, which earns about 70 percent of its revenue in roubles and euros, said it had contracted 85 million pounds ($128 million) of revenue for the year ending September, using an exchange rate of 95 roubles to a pound.
"Trading conditions in Russia have deteriorated over the past two months ... This has affected both international and domestic exhibitors," the company said.