Virtual exhibition and conferencing group Expocentric is on track to meet its full-year objectives after announcing three new contracts today. Elliott Davis reports.

A deal with American exhibition organiser EJ Krause seems particularly significant. At present Expocentric is contracted to produce an on-line version of the Maryland Technology Showcase, at which the likes of Microsoft, IBM and Cisco will be exhibiting. However, Krause oversees more than 60 similar events each year and chief executive Stephen Moore is cautiously optimistic that this may prove 'very much the tip of the iceberg'.

Two further new deals will see Expocentric produce a three day on-line conference trade show and develop a virtual tour of Palm Beach County's new convention centre.

The receipt of three contracts from the US, on top of last month's marketing agreement with conference centre Singapore Expo, is evidence that Expocentric is increasing its territorial diversity. Maiden figures for the year to December revealed that of the £171 million of sales reported, around 62 per cent came from the UK alone. While Moore is eager to point out that this market will always be the businesses 'hub', he believes that huge potential exists overseas, particularly in the US.

For the coming year, house broker Investec Henderson Crosthwaite forecasts that full-year losses will be clawed back to £6.9 million (£12.6 million), while Moore is confident that the company can put together 50 shows, thereby dwarfing last year's total of 13.

The shares climbed 1.5p to 42.5p on the day.

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